IDEX (NYSE:IEX) Stock Price Breaks Above 50-Day Moving Average - Time to Sell?

Key Points

• IDEX shares rose above their 50-day moving average, trading as high as $237.50 versus the average of $230.02.
• Analyst sentiment is broadly positive: nine analysts rate the stock Buy and three Hold, with a consensus “Moderate Buy” rating and a $263.64 price target.
• Recent quarterly results beat expectations, with EPS of $2.33 versus $2.24 forecast and revenue of $951.7 million; revenue increased 8.3% year over year.

Shares of IDEX Corporation (NYSE:IEX - Get Free Report) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $230.02 and traded as high as $237.50. IDEX shares last traded at $236.0780, with a volume of 623,095 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on IEX shares. Citigroup upped their price objective on shares of IDEX from $269.00 to $272.00 and gave the stock a "buy" rating in a research note on Thursday, October 29th. Weiss Ratings reiterated a "buy (b-)" rating on shares of IDEX in a report on Wednesday, October 28th. TD Cowen raised their target price on shares of IDEX from $260.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Argus boosted their price target on shares of IDEX from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada began coverage on shares of IDEX in a report on Thursday, October 29th. They issued a "moderate buy" rating and a $283.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.64.

IDEX Price Performance

The stock has a fifty day moving average price of $230.02 and a 200-day moving average price of $217.11. The firm has a market capitalization of $17.34 billion, a PE ratio of 32.79, a P/E/G ratio of 2.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.95 and a current ratio of 2.78.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.24 by $0.09. The firm had revenue of $951.70 million during the quarter, compared to analyst estimates of $934.36 million. IDEX had a return on equity of 16.18% and a net margin of 14.65%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 EPS. Sell-side analysts forecast that IDEX Corporation will post 8.95 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were issued a $0.73 dividend. The ex-dividend date was Friday, October 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 1.2%. IDEX's payout ratio is currently 40.56%.

Insider Activity at IDEX

In other IDEX news, CAO Lisa Anderson sold 385 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $238.59, for a total transaction of $91,857.15. Following the completion of the sale, the chief accounting officer directly owned 4,327 shares of the company's stock, valued at approximately $1,032,378.93. This represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Elevation Wealth Partners LLC grew its stake in shares of IDEX by 42.7% in the third quarter. Elevation Wealth Partners LLC now owns 147 shares of the industrial products company's stock valued at $34,000 after buying an additional 44 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of IDEX by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,446 shares of the industrial products company's stock valued at $274,000 after buying an additional 56 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of IDEX by 2.6% in the 1st quarter. Sanctuary Advisors LLC now owns 2,443 shares of the industrial products company's stock valued at $463,000 after buying an additional 62 shares during the period. Allworth Financial LP lifted its stake in IDEX by 9.4% during the 2nd quarter. Allworth Financial LP now owns 722 shares of the industrial products company's stock worth $164,000 after acquiring an additional 62 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in IDEX by 39.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 227 shares of the industrial products company's stock worth $52,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 97.96% of the company's stock.

About IDEX

IDEX Corporation is a diversified manufacturer of engineered products and technologies used in industrial, life sciences, fire and safety, and other specialized markets. Its offerings include pumps, valves, flow meters and dispensing equipment, as well as components and instruments used in fluidics, medical technology and scientific applications.

The company also supplies fire and rescue equipment, including tools and water-handling products. IDEX serves customers around the world through its operating businesses, which sell products for applications ranging from manufacturing and energy to healthcare and emergency response.

Founded in 1988, IDEX is headquartered in Northbrook, Illinois.

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