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

Bank of Montreal Can grew its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 16.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,364 shares of the industrial products company's stock after buying an additional 14,088 shares during the quarter. Bank of Montreal Can owned 0.14% of IDEX worth $22,006,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of IEX. Catalyst Capital Advisors LLC grew its position in IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock worth $30,000 after acquiring an additional 59 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of IDEX during the third quarter valued at approximately $39,000. EdgeRock Capital LLC bought a new position in shares of IDEX in the second quarter worth approximately $41,000. Whittier Trust Co. increased its stake in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $42,000 after buying an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company's stock valued at $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.

IDEX Stock Down 0.2 %

Shares of NYSE IEX traded down $0.47 during mid-day trading on Friday, hitting $230.63. 268,772 shares of the stock traded hands, compared to its average volume of 482,925. The company has a market cap of $17.46 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.44 and a beta of 0.96. The stock has a fifty day moving average price of $217.66 and a 200-day moving average price of $208.26. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. 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 (NYSE:IEX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million for 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 company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.12 EPS. Research analysts anticipate that IDEX Co. will post 7.89 EPS for the current year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.20%. IDEX's dividend payout ratio is currently 42.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IEX shares. Oppenheimer cut their price target on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating on the stock in a report on Monday, August 5th. TD Cowen reduced 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. Argus lowered IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Stifel Nicolaus lifted their price objective on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their target price on IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.14.

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.