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
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Get Free ReportIDEX 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.
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