Bank of Montreal Can Purchases 5,128 Shares of IDEX Co. (NYSE:IEX)

Bank of Montreal Can lifted its position in shares of IDEX Co. (NYSE:IEXGet Rating) by 10.3% in the second quarter, HoldingsChannel reports. The fund owned 54,865 shares of the industrial products company’s stock after buying an additional 5,128 shares during the period. Bank of Montreal Can’s holdings in IDEX were worth $10,145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in shares of IDEX by 120.3% during the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 77 shares during the last quarter. Clear Street Markets LLC raised its position in shares of IDEX by 416.1% during the second quarter. Clear Street Markets LLC now owns 160 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 129 shares during the last quarter. San Luis Wealth Advisors LLC bought a new stake in shares of IDEX during the first quarter worth $49,000. SeaCrest Wealth Management LLC acquired a new stake in shares of IDEX during the second quarter worth $49,000. Finally, Quent Capital LLC grew its stake in shares of IDEX by 126.7% during the first quarter. Quent Capital LLC now owns 442 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 247 shares during the period. Institutional investors own 96.52% of the company’s stock.

IDEX Stock Performance

IEX opened at $235.40 on Thursday. IDEX Co. has a 52-week low of $172.18 and a 52-week high of $240.33. The firm has a market capitalization of $17.75 billion, a PE ratio of 31.18, a PEG ratio of 2.41 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.33 and a current ratio of 3.23. The business’s 50-day simple moving average is $213.56 and its 200 day simple moving average is $201.34.

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

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 13th will be issued 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 presently 31.79%.

Analysts Set New Price Targets

A number of brokerages recently commented on IEX. Wells Fargo & Company lifted their price objective on IDEX from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, October 27th. Mizuho lifted their price objective on IDEX from $205.00 to $208.00 and gave the stock a “neutral” rating in a research note on Thursday, October 27th. DA Davidson lifted their price objective on IDEX from $220.00 to $225.00 in a research note on Tuesday. Sanford C. Bernstein assumed coverage on IDEX in a research note on Tuesday, August 16th. They set a “market perform” rating and a $220.00 price objective for the company. Finally, Cowen boosted their target price on IDEX to $240.00 in a research note on Tuesday, November 1st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Insider Buying and Selling

In other IDEX news, Director Livingston Satterthwaite sold 3,075 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $222.69, for a total value of $684,771.75. Following the sale, the director now owns 13,232 shares in the company, valued at $2,946,634.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other IDEX news, Director Livingston Satterthwaite sold 3,075 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $222.69, for a total value of $684,771.75. Following the sale, the director now owns 13,232 shares in the company, valued at $2,946,634.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William K. Grogan sold 843 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $50.45, for a total value of $42,529.35. Following the completion of the sale, the chief financial officer now owns 127,689 shares in the company, valued at approximately $6,441,910.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,766 shares of company stock worth $2,097,044. Corporate insiders own 0.50% of the company’s stock.

IDEX Company Profile

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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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