IDEX (NYSE:IEX) Price Target Raised to $258.00

IDEX (NYSE:IEX) had its target price raised by Royal Bank of Canada from $248.00 to $258.00 in a research report report published on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

IEX has been the topic of a number of other research reports. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Robert W. Baird cut their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, IDEX has an average rating of “Moderate Buy” and an average price target of $242.57.

IDEX Stock Up 0.6 %

Shares of IEX stock opened at $229.71 on Friday. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 2.41 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. IDEX has a 12-month low of $189.51 and a 12-month high of $246.36. The firm has a fifty day moving average of $219.43 and a 200-day moving average of $208.51.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. IDEX’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. As a group, equities research analysts predict that IDEX will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.20%. IDEX’s dividend payout ratio is currently 42.72%.

Institutional Investors Weigh In On IDEX

Institutional investors have recently made changes to their positions in the company. Catalyst Capital Advisors LLC grew its position in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares in the last quarter. Assetmark Inc. bought a new position in IDEX during the 3rd quarter worth $39,000. EdgeRock Capital LLC acquired a new position in IDEX in the 2nd quarter valued at $41,000. Whittier Trust Co. lifted its position in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

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.