Ontario Teachers Pension Plan Board Raises Position in IDEX Co. (NYSE:IEX)

Ontario Teachers Pension Plan Board increased its holdings in IDEX Co. (NYSE:IEX) by 92.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,765 shares of the industrial products company’s stock after purchasing an additional 1,326 shares during the period. Ontario Teachers Pension Plan Board’s holdings in IDEX were worth $593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC grew its stake in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares during the period. Assetmark Inc. purchased a new stake in IDEX during the third quarter valued at about $39,000. EdgeRock Capital LLC acquired a new stake in IDEX during the second quarter worth about $41,000. Whittier Trust Co. raised its holdings in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IEX shares. Royal Bank of Canada lifted their price objective on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Oppenheimer decreased their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Stifel Nicolaus upped their price target on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen decreased their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Robert W. Baird reduced their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $241.14.

IDEX Stock Up 2.0 %

NYSE:IEX opened at $227.50 on Friday. The stock’s fifty day simple moving average is $214.43 and its 200-day simple moving average is $207.89. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36. The firm has a market capitalization of $17.23 billion, a P/E ratio of 35.22, a P/E/G ratio of 2.36 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same period last year, the company earned $2.12 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Equities research analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is currently 42.72%.

IDEX 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.