Toronto Dominion Bank lowered its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 34.3% during the 4th quarter, according to its most recent 13F 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 period. Toronto Dominion Bank's holdings in IDEX were worth $5,350,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in IEX. Wellington Management Group LLP raised its stake in IDEX by 49.1% during the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock valued at $883,119,000 after acquiring an additional 1,388,667 shares in the last quarter. Norges Bank bought a new stake in shares of IDEX in the 4th quarter worth $217,658,000. Price T Rowe Associates Inc. MD raised its stake in shares of IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock worth $767,421,000 after buying an additional 277,964 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of IDEX by 133.2% in the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock worth $85,105,000 after buying an additional 232,255 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of IDEX by 237.1% in the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock worth $53,740,000 after buying an additional 180,601 shares in the last quarter. Institutional investors own 97.96% of the company's stock.
Analyst Ratings Changes
IEX has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Robert W. Baird set a $215.00 price objective on IDEX in a research note on Friday, May 2nd. DA Davidson dropped their price objective on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Mizuho set a $185.00 price objective on IDEX in a research note on Friday, May 16th. Finally, Stifel Nicolaus boosted their price objective on IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $212.50.
Check Out Our Latest Stock Analysis on IEX
IDEX Price Performance
Shares of NYSE IEX traded down $1.35 during mid-day trading on Friday, reaching $180.79. The company had a trading volume of 834,199 shares, compared to its average volume of 580,040. 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 $13.66 billion, a PE ratio of 27.19, a P/E/G ratio of 1.98 and a beta of 1.07. The company has a 50-day moving average price of $176.59 and a two-hundred day moving average price of $197.91. IDEX Co. has a 1-year low of $153.36 and a 1-year high of $238.22.
IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.11. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The business had revenue of $814.30 million for the quarter, compared to the consensus estimate of $807.25 million. During the same quarter in the previous year, the company posted $1.88 earnings per share. IDEX's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current year.
IDEX Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $2.84 dividend on an annualized basis and a yield of 1.57%. This is an increase from IDEX's previous quarterly dividend of $0.69. IDEX's payout ratio is 45.01%.
About IDEX
(
Free Report)
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.
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