Ontario Teachers Pension Plan Board Purchases 1,326 Shares of IDEX Co. (NYSE:IEX)

Ontario Teachers Pension Plan Board raised its stake in IDEX Co. (NYSE:IEX) by 92.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,765 shares of the industrial products company’s stock after acquiring 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.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp lifted its stake in IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after acquiring an additional 1,021,439 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in IDEX by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after purchasing an additional 555,250 shares during the last quarter. Hsbc Holdings PLC grew its position in IDEX by 75.6% in the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after purchasing an additional 223,422 shares during the period. D. E. Shaw & Co. Inc. raised its stake in IDEX by 247.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after buying an additional 141,064 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of IDEX by 1,541.6% in the 2nd quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock worth $27,915,000 after buying an additional 130,292 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on IEX. TD Cowen decreased their price target on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus upped their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. DA Davidson cut their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Finally, Royal Bank of Canada upped their target price on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Stock Up 2.0 %

Shares of NYSE IEX opened at $227.50 on Friday. The business has a 50-day moving average price of $214.43 and a 200 day moving average price of $207.89. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The stock has a market cap of $17.23 billion, a PE ratio of 35.22, a price-to-earnings-growth 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 announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 earnings per share. Equities research analysts forecast that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

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

About IDEX

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.