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

Bank of Montreal Can increased its position in shares of IDEX Co. (NYSE:IEX) by 16.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 102,364 shares of the industrial products company’s stock after purchasing an additional 14,088 shares during the quarter. Bank of Montreal Can owned approximately 0.14% of IDEX worth $22,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IEX. Catalyst Capital Advisors LLC grew its holdings in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 59 shares in the last quarter. Assetmark Inc. bought a new position in IDEX in the 3rd quarter valued at $39,000. EdgeRock Capital LLC purchased a new stake in shares of IDEX during the 2nd quarter valued at $41,000. Whittier Trust Co. raised its stake in shares of IDEX by 38.4% during 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 boosted its holdings 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 worth $43,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Oppenheimer lowered their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. TD Cowen dropped their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price objective on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Robert W. Baird dropped their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, DA Davidson cut their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Price Performance

Shares of NYSE IEX opened at $230.73 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The stock has a market cap of $17.47 billion, a PE ratio of 35.72, a price-to-earnings-growth ratio of 2.44 and a beta of 0.96. The stock has a fifty day moving average of $217.22 and a 200-day moving average of $208.23.

IDEX (NYSE:IEX) last posted its 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 business had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the previous year, the firm earned $2.12 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts anticipate that IDEX Co. will post 7.89 earnings per share for the current year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, January 17th. IDEX’s payout ratio is 42.72%.

IDEX Company 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.