TD Asset Management Inc Has $32.04 Million Position in IDEX Co. (NYSE:IEX)

TD Asset Management Inc boosted its holdings in shares of IDEX Co. (NYSE:IEX) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,241 shares of the industrial products company’s stock after buying an additional 9,561 shares during the period. TD Asset Management Inc’s holdings in IDEX were worth $32,039,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IEX. International Assets Investment Management LLC acquired a new stake in IDEX during the fourth quarter worth $518,000. National Bank of Canada FI lifted its holdings in shares of IDEX by 7.3% during the fourth quarter. National Bank of Canada FI now owns 20,187 shares of the industrial products company’s stock valued at $4,341,000 after acquiring an additional 1,382 shares during the period. Private Advisor Group LLC lifted its holdings in shares of IDEX by 6.4% during the fourth quarter. Private Advisor Group LLC now owns 2,418 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 146 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of IDEX by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock valued at $132,164,000 after acquiring an additional 15,202 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of IDEX during the fourth quarter valued at $61,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of analyst reports. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Royal Bank of Canada cut their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. TD Cowen cut their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Oppenheimer reduced their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.50.

IDEX Stock Performance

Shares of IDEX stock opened at $195.14 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The firm has a market cap of $14.77 billion, a P/E ratio of 25.68, a P/E/G ratio of 2.18 and a beta of 0.95. The firm has a 50 day simple moving average of $200.08 and a 200 day simple moving average of $216.03. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. IDEX’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 earnings per share. Sell-side analysts predict that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, July 12th. IDEX’s payout ratio is 36.32%.

IDEX Profile

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.