TD Asset Management Inc. Decreases Holdings in IDEX Co. (IEX)
TD Asset Management Inc. cut its holdings in shares of IDEX Co. (NYSE:IEX) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 130,377 shares of the industrial products company’s stock after selling 9,220 shares during the quarter. TD Asset Management Inc.’s holdings in IDEX were worth $16,461,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BTIM Corp. boosted its position in IDEX by 10.1% during the 4th quarter. BTIM Corp. now owns 79,936 shares of the industrial products company’s stock worth $10,093,000 after acquiring an additional 7,311 shares during the period. DNB Asset Management AS boosted its position in IDEX by 21.1% during the 4th quarter. DNB Asset Management AS now owns 16,069 shares of the industrial products company’s stock worth $2,029,000 after acquiring an additional 2,804 shares during the period. First Hawaiian Bank acquired a new stake in IDEX during the 3rd quarter worth about $120,000. Morgan Stanley boosted its position in IDEX by 32.8% during the 3rd quarter. Morgan Stanley now owns 326,434 shares of the industrial products company’s stock worth $49,181,000 after acquiring an additional 80,558 shares during the period. Finally, FMR LLC boosted its position in IDEX by 6.9% during the 3rd quarter. FMR LLC now owns 1,112,161 shares of the industrial products company’s stock worth $167,559,000 after acquiring an additional 71,693 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.
IEX has been the subject of a number of research reports. Zacks Investment Research upgraded IDEX from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Friday, November 16th. Royal Bank of Canada upgraded IDEX from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $141.00 to $146.00 in a report on Thursday, January 3rd. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $145.70.
IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.04. The business had revenue of $614.09 million during the quarter, compared to analyst estimates of $617.72 million. IDEX had a return on equity of 20.83% and a net margin of 16.53%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. As a group, equities research analysts predict that IDEX Co. will post 5.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 30th. Stockholders of record on Tuesday, January 15th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, January 14th. This represents a $1.72 annualized dividend and a dividend yield of 1.23%. IDEX’s dividend payout ratio is 31.79%.
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IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
Further Reading: What is the Ex-Dividend Date in Investing?
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