TD Asset Management Inc Trims Stock Position in IDEX Corporation $IEX

TD Asset Management Inc decreased its position in IDEX Corporation (NYSE:IEX) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,401 shares of the industrial products company’s stock after selling 33,342 shares during the period. TD Asset Management Inc owned 0.17% of IDEX worth $22,895,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Verdence Capital Advisors LLC raised its position in shares of IDEX by 9.1% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,768 shares of the industrial products company’s stock valued at $310,000 after buying an additional 148 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in IDEX in the second quarter valued at $275,000. Vest Financial LLC raised its position in IDEX by 34.6% in the second quarter. Vest Financial LLC now owns 21,150 shares of the industrial products company’s stock valued at $3,713,000 after purchasing an additional 5,438 shares during the period. CWM LLC lifted its stake in shares of IDEX by 25.2% in the 2nd quarter. CWM LLC now owns 2,086 shares of the industrial products company’s stock valued at $366,000 after purchasing an additional 420 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of IDEX by 24.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,912 shares of the industrial products company’s stock worth $1,214,000 after purchasing an additional 1,379 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada reduced their price target on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. DA Davidson set a $180.00 price objective on shares of IDEX and gave the stock a “neutral” rating in a report on Monday, August 4th. Citigroup lifted their target price on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.43.

IDEX Stock Up 0.9%

Shares of NYSE:IEX opened at $166.53 on Friday. The firm has a market capitalization of $12.54 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. The firm’s 50-day moving average is $163.57 and its two-hundred day moving average is $172.15.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The firm had revenue of $712.00 million during the quarter. Analysts predict that IDEX Corporation will post 8.26 EPS for the current year.

IDEX declared that its board has approved a stock buyback program on Thursday, September 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 8.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.7%. IDEX’s dividend payout ratio is currently 45.88%.

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.