IDEX Co. (NYSE:IEX) Receives $242.86 Average PT from Brokerages

IDEX Co. (NYSE:IEX) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $242.86.

IEX has been the topic of several research reports. Royal Bank of Canada increased their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird dropped their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup reduced their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus increased their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Institutional Trading of IDEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in IDEX by 44.1% in the second quarter. American Century Companies Inc. now owns 9,848 shares of the industrial products company’s stock worth $1,981,000 after purchasing an additional 3,012 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of IDEX by 3.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 25,294 shares of the industrial products company’s stock valued at $5,089,000 after buying an additional 818 shares during the period. Dimensional Fund Advisors LP grew its holdings in IDEX by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock worth $94,698,000 after acquiring an additional 78,551 shares during the period. Renaissance Technologies LLC bought a new stake in IDEX in the second quarter worth about $11,272,000. Finally, Argent Trust Co acquired a new stake in IDEX in the 2nd quarter valued at about $294,000. 97.96% of the stock is currently owned by institutional investors.

IDEX Trading Down 0.8 %

NYSE:IEX opened at $220.22 on Friday. IDEX has a 52 week low of $189.51 and a 52 week high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The company has a market cap of $16.68 billion, a PE ratio of 34.09, a P/E/G ratio of 2.17 and a beta of 0.97. The business’s 50 day moving average is $219.36 and its two-hundred day moving average is $211.29.

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

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s payout ratio is currently 42.72%.

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.