IDEX Corporation (NYSE:IEX) Receives $201.71 Average Price Target from Analysts

Key Points

• IDEX Corporation has received an average recommendation of "Moderate Buy" from seven brokerage firms, with a price target of approximately $201.71.
• In quarterly earnings reported on July 30th, IDEX surpassed expectations with an EPS of $2.07 and revenue of $865.40 million, marking a 7.2% increase compared to the previous year.
• The company recently announced a quarterly dividend of $0.71, resulting in an annualized yield of 1.8%.

Shares of IDEX Corporation (NYSE:IEX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $201.7143.

A number of research firms have issued reports on IEX. Stifel Nicolaus decreased their price target on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Mizuho set a $185.00 target price on IDEX in a research note on Friday, May 16th. Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. DA Davidson set a $180.00 price objective on IDEX and gave the company a "neutral" rating in a report on Monday. Finally, Royal Bank Of Canada decreased their target price on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, July 31st.

Insider Activity at IDEX

In related news, CFO Akhil Mahendra sold 250 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the sale, the chief financial officer directly owned 5,035 shares of the company's stock, valued at $910,781.15. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On IDEX

Several hedge funds have recently bought and sold shares of IEX. Wellington Management Group LLP raised its holdings in IDEX by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company's stock worth $914,007,000 after purchasing an additional 831,005 shares during the period. Millennium Management LLC grew its holdings in IDEX by 1,232.4% in the first quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company's stock valued at $88,182,000 after purchasing an additional 450,704 shares during the period. Flossbach Von Storch SE increased its position in shares of IDEX by 132.8% in the second quarter. Flossbach Von Storch SE now owns 640,792 shares of the industrial products company's stock valued at $112,504,000 after buying an additional 365,525 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of IDEX by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock worth $767,421,000 after buying an additional 277,964 shares during the period. Finally, Amundi raised its stake in shares of IDEX by 23.4% during the 1st quarter. Amundi now owns 1,249,546 shares of the industrial products company's stock worth $220,849,000 after buying an additional 236,650 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.

IDEX Stock Down 0.2%

NYSE:IEX traded down $0.29 during mid-day trading on Thursday, hitting $158.24. 639,104 shares of the company's stock traded hands, compared to its average volume of 672,421. The company has a fifty day moving average of $177.75 and a 200 day moving average of $183.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 3.05. IDEX has a twelve month low of $153.36 and a twelve month high of $238.22. The company has a market capitalization of $11.91 billion, a P/E ratio of 25.56, a P/E/G ratio of 1.68 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. The business had revenue of $865.40 million for the quarter, compared to analyst estimates of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%. The company's revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. On average, analysts forecast that IDEX will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's payout ratio is 45.88%.

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.