Brokerages Set IDEX Corporation (NYSE:IEX) Target Price at $212.50

IDEX Corporation (NYSE:IEX - Get Free Report) has received an average rating of "Moderate Buy" from the eight brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $212.50.

IEX has been the topic of a number of analyst reports. Mizuho set a $185.00 price target on IDEX in a research report on Friday, May 16th. Citigroup cut their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. Royal Bank Of Canada boosted their price target on shares of IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, DA Davidson decreased their price objective on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th.

IDEX Trading Down 0.7%

Shares of IDEX stock traded down $1.16 on Wednesday, hitting $174.83. The stock had a trading volume of 888,840 shares, compared to its average volume of 587,418. The stock has a 50 day moving average of $178.31 and a 200 day moving average of $193.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.99 and a current ratio of 2.79. IDEX has a twelve month low of $153.36 and a twelve month high of $238.22. The firm has a market capitalization of $13.21 billion, a P/E ratio of 27.71, a PEG ratio of 1.79 and a beta of 1.06.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 14.60% and a return on equity of 15.51%. The firm had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. During the same quarter last year, the firm earned $1.88 earnings per share. The company's revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts expect that IDEX will post 8.26 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.62%. IDEX's payout ratio is presently 45.01%.

Insiders Place Their Bets

In other news, CFO Akhil Mahendra sold 250 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the transaction, the chief financial officer now owns 5,035 shares of the company's stock, valued at $910,781.15. This represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its position in IDEX by 22.9% in the 4th quarter. Empowered Funds LLC now owns 1,592 shares of the industrial products company's stock valued at $333,000 after acquiring an additional 297 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company's stock worth $6,386,000 after purchasing an additional 1,209 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of IDEX by 6.1% in the fourth quarter. Handelsbanken Fonder AB now owns 20,800 shares of the industrial products company's stock valued at $4,353,000 after purchasing an additional 1,200 shares in the last quarter. Boston Financial Mangement LLC purchased a new position in shares of IDEX during the fourth quarter valued at approximately $226,000. Finally, Allianz Asset Management GmbH grew its holdings in IDEX by 133.2% during the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock worth $85,105,000 after buying an additional 232,255 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Company Profile

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.