IDEX (NYSE:IEX – Free Report) had its target price decreased by Robert W. Baird from $256.00 to $241.00 in a research report released on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.
A number of other brokerages have also recently commented on IEX. StockNews.com cut IDEX from a buy rating to a hold rating in a research report on Thursday, July 11th. Citigroup lifted their price objective on IDEX from $254.00 to $277.00 and gave the company a buy rating in a research note on Monday, April 8th. Stifel Nicolaus reduced their price objective on IDEX from $265.00 to $236.00 and set a buy rating for the company in a research note on Thursday, July 18th. Finally, Oppenheimer lifted their price objective on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $241.71.
Check Out Our Latest Report on IEX
IDEX Stock Performance
IDEX (NYSE:IEX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. During the same quarter in the previous year, the firm posted $2.18 EPS. The firm’s revenue was down 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that IDEX will post 7.85 EPS for the current fiscal year.
IDEX Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, July 12th. IDEX’s payout ratio is 36.32%.
Institutional Investors Weigh In On IDEX
Institutional investors have recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of IDEX during the 1st quarter worth approximately $35,000. Quarry LP acquired a new position in shares of IDEX during the 4th quarter worth approximately $36,000. EdgeRock Capital LLC acquired a new position in shares of IDEX during the 2nd quarter worth approximately $41,000. Whittier Trust Co. boosted its holdings 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 worth $42,000 after purchasing an additional 58 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.
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.
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