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IDEX Co. (NYSE:IEX) Given Average Rating of "Moderate Buy" by Brokerages

IDEX logo with Industrials background

IDEX Co. (NYSE:IEX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $212.50.

IEX has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Robert W. Baird set a $215.00 target price on IDEX in a research report on Friday, May 2nd. DA Davidson lowered their target price on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus boosted their target price on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Mizuho set a $185.00 price objective on shares of IDEX in a research note on Friday, May 16th.

Check Out Our Latest Research Report on IDEX

Institutional Investors Weigh In On IDEX

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of IDEX by 1.2% during the third 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. Park Avenue Securities LLC lifted its stake in IDEX by 27.0% in the 4th quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company's stock valued at $488,000 after purchasing an additional 495 shares during the last quarter. HB Wealth Management LLC grew its position in IDEX by 23.1% during the 4th quarter. HB Wealth Management LLC now owns 1,157 shares of the industrial products company's stock worth $242,000 after acquiring an additional 217 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in IDEX by 31.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 10,914 shares of the industrial products company's stock valued at $2,284,000 after buying an additional 2,582 shares during the last quarter. Finally, Fenimore Asset Management Inc grew its stake in shares of IDEX by 0.3% in the fourth quarter. Fenimore Asset Management Inc now owns 839,507 shares of the industrial products company's stock worth $175,701,000 after purchasing an additional 2,701 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Stock Up 2.1%

IDEX stock traded up $3.76 during trading on Friday, reaching $183.36. The stock had a trading volume of 500,399 shares, compared to its average volume of 583,826. The stock has a market cap of $13.85 billion, a PE ratio of 27.57, a P/E/G ratio of 1.98 and a beta of 1.07. The business has a 50 day moving average price of $176.77 and a 200 day moving average price of $198.79. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX has a 52-week low of $153.36 and a 52-week high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.11. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The company had revenue of $814.30 million during the quarter, compared to analysts' expectations of $807.25 million. During the same quarter in the previous year, the business earned $1.88 earnings per share. The firm's revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts predict that IDEX will post 8.26 EPS for the current year.

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be issued a $0.71 dividend. This is an increase from IDEX's previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, May 19th. IDEX's dividend payout ratio is 45.01%.

About IDEX

(Get Free Report

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.

Further Reading

Analyst Recommendations for IDEX (NYSE:IEX)

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