IDEX Corporation (IEX) Shares Bought by TD Asset Management Inc.
TD Asset Management Inc. increased its position in shares of IDEX Corporation (NYSE:IEX) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,380 shares of the industrial products company’s stock after buying an additional 10,080 shares during the period. TD Asset Management Inc.’s holdings in IDEX Corporation were worth $20,159,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of IDEX Corporation by 7,037.4% in the first quarter. BlackRock Inc. now owns 6,425,051 shares of the industrial products company’s stock worth $600,808,000 after buying an additional 6,335,032 shares in the last quarter. Vanguard Group Inc. increased its position in shares of IDEX Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 6,246,396 shares of the industrial products company’s stock worth $584,099,000 after buying an additional 327,970 shares in the last quarter. Wellington Management Group LLP increased its position in shares of IDEX Corporation by 1.4% in the first quarter. Wellington Management Group LLP now owns 2,830,339 shares of the industrial products company’s stock worth $264,665,000 after buying an additional 39,295 shares in the last quarter. State Street Corp increased its position in shares of IDEX Corporation by 3.1% in the first quarter. State Street Corp now owns 1,986,385 shares of the industrial products company’s stock worth $185,741,000 after buying an additional 59,393 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of IDEX Corporation by 52.8% in the first quarter. Clearbridge Investments LLC now owns 1,326,704 shares of the industrial products company’s stock worth $124,060,000 after buying an additional 458,726 shares in the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.
IDEX Corporation (NYSE IEX) opened at 113.12 on Friday. IDEX Corporation has a 12-month low of $82.05 and a 12-month high of $118.08. The stock has a market capitalization of $8.65 billion, a P/E ratio of 30.32 and a beta of 1.20. The firm’s 50-day moving average is $114.25 and its 200 day moving average is $102.64.
IDEX Corporation (NYSE:IEX) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The firm had revenue of $573.40 million for the quarter, compared to analysts’ expectations of $568.43 million. During the same period in the previous year, the business earned $0.99 earnings per share. IDEX Corporation’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that IDEX Corporation will post $4.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a dividend of $0.37 per share. The ex-dividend date was Wednesday, July 12th. This represents a $1.48 annualized dividend and a yield of 1.31%. IDEX Corporation’s payout ratio is presently 39.68%.
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A number of equities analysts have recently issued reports on IEX shares. Zacks Investment Research downgraded shares of IDEX Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 22nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of IDEX Corporation in a report on Wednesday, May 24th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $102.00 price target (up previously from $99.00) on shares of IDEX Corporation in a report on Friday, April 21st. BMO Capital Markets reiterated a “hold” rating and issued a $110.00 price target on shares of IDEX Corporation in a report on Friday, July 28th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of IDEX Corporation in a report on Wednesday, June 21st. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $105.00.
In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the sale, the chairman now owns 142,114 shares in the company, valued at approximately $16,343,110. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.
About IDEX Corporation
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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