Toronto Dominion Bank Grows Holdings in IDEX Co. (IEX)
Toronto Dominion Bank boosted its holdings in IDEX Co. (NYSE:IEX) by 243.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,222 shares of the industrial products company’s stock after purchasing an additional 2,284 shares during the quarter. Toronto Dominion Bank’s holdings in IDEX were worth $391,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. New York State Common Retirement Fund boosted its holdings in shares of IDEX by 7.1% during the third quarter. New York State Common Retirement Fund now owns 296,823 shares of the industrial products company’s stock valued at $36,055,000 after acquiring an additional 19,762 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of IDEX by 181.1% during the third quarter. BNP Paribas Arbitrage SA now owns 106,468 shares of the industrial products company’s stock valued at $12,933,000 after acquiring an additional 68,590 shares during the period. Alps Advisors Inc. acquired a new position in shares of IDEX during the third quarter valued at $301,000. Candriam Luxembourg S.C.A. acquired a new position in shares of IDEX during the third quarter valued at $368,000. Finally, Swiss National Bank boosted its holdings in shares of IDEX by 1.0% during the third quarter. Swiss National Bank now owns 281,200 shares of the industrial products company’s stock valued at $34,157,000 after acquiring an additional 2,900 shares during the period. 98.26% of the stock is owned by institutional investors.
Shares of IDEX Co. (IEX) opened at $130.69 on Friday. IDEX Co. has a one year low of $88.29 and a one year high of $130.98. The company has a current ratio of 2.84, a quick ratio of 2.04 and a debt-to-equity ratio of 0.48. The firm has a market cap of $9,955.92, a PE ratio of 31.40, a P/E/G ratio of 2.35 and a beta of 1.22.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Monday, October 16th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. IDEX had a net margin of 13.48% and a return on equity of 19.07%. The business had revenue of $574.50 million for the quarter, compared to analysts’ expectations of $563.23 million. During the same period in the previous year, the business earned $0.92 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. research analysts predict that IDEX Co. will post 4.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, October 13th. IDEX’s dividend payout ratio is currently 37.95%.
In related news, SVP Jeffrey D. Bucklew sold 4,000 shares of IDEX stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $116.79, for a total transaction of $467,160.00. Following the sale, the senior vice president now directly owns 6,726 shares in the company, valued at $785,529.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Daniel J. Salliotte sold 6,000 shares of IDEX stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $115.34, for a total transaction of $692,040.00. Following the sale, the senior vice president now owns 33,762 shares in the company, valued at $3,894,109.08. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
Several equities analysts have recently issued reports on IEX shares. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $138.00 price target for the company in a report on Thursday, September 21st. Stifel Nicolaus reissued a “hold” rating and set a $120.00 price target on shares of IDEX in a report on Sunday, September 3rd. Cowen Inc reissued a “hold” rating and set a $95.00 price target on shares of IDEX in a report on Friday, October 6th. SunTrust Banks, Inc. reissued a “hold” rating and set a $118.00 price target on shares of IDEX in a report on Tuesday, October 17th. They noted that the move was a valuation call. Finally, Robert W. Baird reissued a “buy” rating and set a $129.00 price target on shares of IDEX in a report on Wednesday, October 4th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $113.78.
IDEX Company Profile
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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