Bank of Montreal Can Grows Position in IDEX Co. (NYSE:IEX)

Bank of Montreal Can boosted its stake in shares of IDEX Co. (NYSE:IEXGet Rating) by 10.3% in the second quarter, Holdings Channel reports. The institutional investor owned 54,865 shares of the industrial products company’s stock after purchasing an additional 5,128 shares during the period. Bank of Montreal Can’s holdings in IDEX were worth $10,145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in IDEX by 120.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after buying an additional 77 shares in the last quarter. Clear Street Markets LLC increased its position in IDEX by 416.1% during the 2nd quarter. Clear Street Markets LLC now owns 160 shares of the industrial products company’s stock valued at $29,000 after buying an additional 129 shares in the last quarter. San Luis Wealth Advisors LLC bought a new position in IDEX during the 1st quarter valued at approximately $49,000. SeaCrest Wealth Management LLC bought a new position in IDEX during the 2nd quarter valued at approximately $49,000. Finally, Quent Capital LLC increased its position in IDEX by 126.7% during the 1st quarter. Quent Capital LLC now owns 442 shares of the industrial products company’s stock valued at $85,000 after buying an additional 247 shares in the last quarter. Institutional investors own 96.52% of the company’s stock.

Analyst Ratings Changes

IEX has been the subject of a number of analyst reports. Mizuho raised their price objective on IDEX from $205.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, October 27th. Cowen lifted their target price on IDEX to $240.00 in a report on Tuesday, November 1st. Morgan Stanley lifted their target price on IDEX from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, October 27th. DA Davidson lifted their target price on IDEX from $220.00 to $225.00 in a report on Tuesday. Finally, Stifel Nicolaus reduced their target price on IDEX from $213.00 to $211.00 and set a “hold” rating for the company in a report on Tuesday, October 11th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Insiders Place Their Bets

In other IDEX news, CFO William K. Grogan sold 843 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $50.45, for a total transaction of $42,529.35. Following the sale, the chief financial officer now directly owns 127,689 shares of the company’s stock, valued at $6,441,910.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other IDEX news, CFO William K. Grogan sold 843 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $50.45, for a total transaction of $42,529.35. Following the sale, the chief financial officer now directly owns 127,689 shares of the company’s stock, valued at $6,441,910.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric D. Ashleman sold 15,848 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $86.43, for a total value of $1,369,742.64. Following the sale, the chief executive officer now directly owns 38,480 shares in the company, valued at $3,325,826.40. The disclosure for this sale can be found here. Insiders have sold 19,766 shares of company stock valued at $2,097,044 over the last ninety days. 0.50% of the stock is owned by insiders.

IDEX Price Performance

NYSE:IEX opened at $235.40 on Thursday. The company has a current ratio of 3.23, a quick ratio of 2.33 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $17.75 billion, a P/E ratio of 31.18, a P/E/G ratio of 2.41 and a beta of 1.01. IDEX Co. has a 12 month low of $172.18 and a 12 month high of $240.33. The business’s 50-day moving average is $213.56 and its 200 day moving average is $201.34.

IDEX (NYSE:IEXGet Rating) last posted its earnings results on Tuesday, October 25th. The industrial products company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.14. The company had revenue of $824.00 million for the quarter, compared to the consensus estimate of $779.81 million. IDEX had a return on equity of 20.68% and a net margin of 18.66%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 earnings per share. On average, equities research analysts forecast that IDEX Co. will post 8.08 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 13th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, January 12th. This represents a $2.40 annualized dividend and a yield of 1.02%. IDEX’s payout ratio is currently 31.79%.

IDEX Company Profile

(Get Rating)

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, small volume provers, 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.

See Also

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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