IDEX Co. (NYSE:IEX) Shares Bought by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co grew its stake in shares of IDEX Co. (NYSE:IEX) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,449 shares of the industrial products company’s stock after acquiring an additional 1,229 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.07% of IDEX worth $13,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of IEX. Planned Solutions Inc. acquired a new stake in shares of IDEX during the 4th quarter valued at approximately $33,000. Riverview Trust Co acquired a new stake in shares of IDEX during the 1st quarter valued at approximately $35,000. Quarry LP acquired a new stake in shares of IDEX during the 4th quarter valued at approximately $36,000. EdgeRock Capital LLC acquired a new stake in shares of IDEX during the 4th quarter valued at approximately $48,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of IDEX during the 4th quarter valued at approximately $50,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on IEX. Oppenheimer lifted their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Robert W. Baird lowered their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Citigroup lifted their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Stifel Nicolaus lowered their target price on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Two equities research 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 stock has an average rating of “Moderate Buy” and a consensus target price of $246.57.

IDEX Stock Up 2.5 %

IEX stock traded up $5.00 during trading on Thursday, reaching $203.71. The stock had a trading volume of 326,573 shares, compared to its average volume of 425,356. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $15.42 billion, a P/E ratio of 26.92, a PEG ratio of 2.05 and a beta of 0.95. The firm has a fifty day moving average price of $205.03 and a 200 day moving average price of $219.62.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 EPS. On average, equities analysts anticipate that IDEX Co. will post 8.27 earnings per share for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, July 12th. IDEX’s payout ratio is currently 36.32%.

IDEX Company 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.