Bank of Montreal Can Cuts Stock Holdings in IDEX Co. (NYSE:IEX)

Bank of Montreal Can reduced its position in IDEX Co. (NYSE:IEX) by 34.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,443 shares of the industrial products company’s stock after selling 34,921 shares during the period. Bank of Montreal Can owned about 0.09% of IDEX worth $14,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in shares of IDEX by 34.0% during the third quarter. Quantinno Capital Management LP now owns 3,596 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 913 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in IDEX by 9.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 21,958 shares of the industrial products company’s stock worth $4,710,000 after buying an additional 1,986 shares during the last quarter. Barclays PLC lifted its stake in IDEX by 1.2% during the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after acquiring an additional 14,360 shares during the period. Geode Capital Management LLC boosted its holdings in shares of IDEX by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock valued at $404,339,000 after acquiring an additional 23,388 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of IDEX by 1.3% in the third quarter. Toronto Dominion Bank now owns 38,884 shares of the industrial products company’s stock worth $8,341,000 after acquiring an additional 512 shares during the period. 97.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IEX has been the topic of several research reports. Citigroup dropped their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada dropped their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Trading Up 0.8 %

NYSE:IEX opened at $168.23 on Friday. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The business has a fifty day moving average price of $185.17 and a 200-day moving average price of $206.47. IDEX Co. has a one year low of $153.36 and a one year high of $238.22.

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

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.