Rosenblatt Securities began coverage on shares of IDEX (NYSE:IEX) in a research note released on Thursday morning, The Fly reports. The brokerage issued a buy rating and a $185.00 price objective on the industrial products company’s stock.
Several other equities analysts have also recently issued reports on IEX. Stifel Nicolaus lifted their price objective on IDEX from $157.00 to $162.00 and gave the stock a hold rating in a report on Monday, July 29th. ValuEngine cut IDEX from a buy rating to a hold rating in a report on Tuesday, October 1st. Wells Fargo & Co reduced their price objective on IDEX from $200.00 to $190.00 and set an outperform rating for the company in a report on Thursday, October 31st. Finally, Citigroup assumed coverage on IDEX in a report on Monday, September 30th. They set a neutral rating and a $175.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $174.14.
Shares of IEX traded down $0.76 during mid-day trading on Thursday, hitting $159.62. The company’s stock had a trading volume of 211,681 shares, compared to its average volume of 464,973. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.39. The firm has a 50-day simple moving average of $159.81 and a 200 day simple moving average of $161.59. The firm has a market capitalization of $12.21 billion, a P/E ratio of 29.50, a P/E/G ratio of 2.76 and a beta of 1.21. IDEX has a 1-year low of $117.72 and a 1-year high of $173.84.
IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.46 by $0.06. The business had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $641.66 million. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.41 EPS. As a group, sell-side analysts predict that IDEX will post 5.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.00 annualized dividend and a yield of 1.25%. IDEX’s dividend payout ratio is presently 36.97%.
In other news, Director William M. Cook sold 4,080 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $161.93, for a total value of $660,674.40. Following the completion of the transaction, the director now directly owns 22,308 shares of the company’s stock, valued at $3,612,334.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Eric D. Ashleman sold 2,922 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $165.75, for a total value of $484,321.50. Following the completion of the transaction, the chief operating officer now directly owns 22,453 shares of the company’s stock, valued at $3,721,584.75. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bbva USA Bancshares Inc. raised its holdings in shares of IDEX by 1.3% in the second quarter. Bbva USA Bancshares Inc. now owns 5,835 shares of the industrial products company’s stock worth $1,004,000 after acquiring an additional 74 shares during the last quarter. Huntington National Bank raised its holdings in shares of IDEX by 14.0% in the third quarter. Huntington National Bank now owns 694 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 85 shares during the last quarter. Farr Miller & Washington LLC DC raised its holdings in shares of IDEX by 3.7% in the second quarter. Farr Miller & Washington LLC DC now owns 2,495 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 90 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of IDEX by 1.6% in the second quarter. Johnson Investment Counsel Inc. now owns 6,359 shares of the industrial products company’s stock worth $1,094,000 after acquiring an additional 99 shares during the last quarter. Finally, We Are One Seven LLC raised its holdings in shares of IDEX by 3.1% in the third quarter. We Are One Seven LLC now owns 3,731 shares of the industrial products company’s stock worth $611,000 after acquiring an additional 111 shares during the last quarter. 95.25% of the stock is owned by institutional investors.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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