Bank of Nova Scotia Buys 420 Shares of IDEX Co. (NYSE:IEX)

Bank of Nova Scotia lifted its stake in shares of IDEX Co. (NYSE:IEX) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,105 shares of the industrial products company’s stock after acquiring an additional 420 shares during the quarter. Bank of Nova Scotia’s holdings in IDEX were worth $2,115,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Asset Management One Co. Ltd. boosted its position in IDEX by 4.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock worth $6,386,000 after purchasing an additional 1,209 shares during the period. Assetmark Inc. boosted its holdings in shares of IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after buying an additional 235 shares during the period. Covea Finance grew its stake in IDEX by 70.6% in the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock valued at $3,035,000 after buying an additional 6,000 shares during the last quarter. Barclays PLC raised its holdings in IDEX by 1.2% in the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after acquiring an additional 14,360 shares during the period. Finally, Park Avenue Securities LLC lifted its position in IDEX by 27.0% during the 4th quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock worth $488,000 after acquiring an additional 495 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Up 0.8 %

Shares of IEX stock opened at $168.23 on Monday. The firm has a fifty day moving average of $185.17 and a 200-day moving average of $206.42. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 1.98 and a beta of 1.05. IDEX Co. has a 52-week low of $153.36 and a 52-week high of $238.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, equities research analysts forecast that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

IEX has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada cut their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Finally, DA Davidson reduced their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.71.

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.