Toronto Dominion Bank Trims Stock Holdings in IDEX Co. (NYSE:IEX)

Toronto Dominion Bank trimmed its position in shares of IDEX Co. (NYSE:IEX - Free Report) by 34.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,564 shares of the industrial products company's stock after selling 13,320 shares during the quarter. Toronto Dominion Bank's holdings in IDEX were worth $5,350,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Siemens Fonds Invest GmbH increased its holdings in shares of IDEX by 275.5% during the 4th quarter. Siemens Fonds Invest GmbH now owns 4,243 shares of the industrial products company's stock valued at $888,000 after purchasing an additional 3,113 shares in the last quarter. Rafferty Asset Management LLC grew its stake in IDEX by 11.4% in the 4th quarter. Rafferty Asset Management LLC now owns 7,070 shares of the industrial products company's stock valued at $1,480,000 after acquiring an additional 722 shares during the period. Raiffeisen Bank International AG acquired a new stake in IDEX in the 4th quarter valued at $10,644,000. Port Capital LLC grew its stake in IDEX by 1.8% in the 4th quarter. Port Capital LLC now owns 194,140 shares of the industrial products company's stock valued at $40,632,000 after acquiring an additional 3,489 shares during the period. Finally, Quantinno Capital Management LP grew its stake in IDEX by 146.7% in the 4th quarter. Quantinno Capital Management LP now owns 8,873 shares of the industrial products company's stock valued at $1,857,000 after acquiring an additional 5,277 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Price Performance

IEX traded up $2.21 on Tuesday, hitting $181.81. 66,201 shares of the company's stock were exchanged, compared to its average volume of 627,725. The firm has a 50-day moving average price of $176.77 and a 200-day moving average price of $198.79. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 1.98 and a beta of 1.07. IDEX Co. has a fifty-two week low of $153.36 and a fifty-two week high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. The firm had revenue of $814.30 million for the quarter, compared to analysts' expectations of $807.25 million. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The company's revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS. As a group, equities analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a dividend of $0.71 per share. This is a boost from IDEX's previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.84 annualized dividend and a dividend yield of 1.56%. IDEX's payout ratio is presently 45.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Citigroup dropped their price target on shares of IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus lifted their price target on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. DA Davidson lowered their target price on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Finally, Robert W. Baird set a $215.00 target price on shares of IDEX in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEX presently has an average rating of "Moderate Buy" and a consensus price target of $212.50.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.