Other equities analysts have also recently issued research reports about the company. BMO Capital Markets reiterated a hold rating and issued a $110.00 price target on shares of IDEX Corporation in a report on Friday, July 28th. Seaport Global Securities reiterated a neutral rating on shares of IDEX Corporation in a report on Wednesday, June 21st. Zacks Investment Research upgraded IDEX Corporation from a hold rating to a buy rating and set a $138.00 price target on the stock in a report on Thursday. Stifel Nicolaus reiterated a hold rating and issued a $100.00 price target on shares of IDEX Corporation in a report on Friday, May 26th. Finally, BidaskClub cut IDEX Corporation from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. IDEX Corporation currently has a consensus rating of Hold and an average target price of $108.63.
Shares of IDEX Corporation (NYSE IEX) traded down 0.12% during midday trading on Thursday, reaching $123.00. 253,686 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $116.81 and its 200 day moving average price is $107.55. IDEX Corporation has a 52-week low of $82.05 and a 52-week high of $123.94. The firm has a market capitalization of $9.40 billion, a P/E ratio of 32.97 and a beta of 1.19.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. The business had revenue of $573.40 million for the quarter, compared to analysts’ expectations of $568.43 million. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that IDEX Corporation will post $4.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, October 13th. IDEX Corporation’s payout ratio is 39.68%.
In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $5,750,000.00. Following the transaction, the chairman now owns 142,114 shares of the company’s stock, valued at $16,343,110. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $116.79, for a total value of $467,160.00. Following the completion of the transaction, the senior vice president now directly owns 6,726 shares in the company, valued at approximately $785,529.54. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock worth $6,909,200 in the last three months. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IEX. Toronto Dominion Bank acquired a new stake in shares of IDEX Corporation during the second quarter worth about $106,000. Strs Ohio acquired a new stake in shares of IDEX Corporation during the second quarter worth about $112,000. Acrospire Investment Management LLC raised its position in shares of IDEX Corporation by 1,000.0% during the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,000 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of IDEX Corporation during the second quarter worth about $134,000. Finally, IHT Wealth Management LLC raised its position in shares of IDEX Corporation by 258.5% during the second quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 380 shares during the period. 98.50% of the stock is currently owned by institutional investors.
IDEX Corporation Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
Receive News & Ratings for IDEX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX Corporation and related companies with MarketBeat.com's FREE daily email newsletter.