IDEX Co. (NYSE:IEX) Receives $235.33 Average PT from Brokerages

IDEX Co. (NYSE:IEX) has received an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $233.50.

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Robert W. Baird reduced their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. DA Davidson reduced their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Finally, Oppenheimer decreased their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th.

IDEX Price Performance

Shares of IEX stock opened at $203.18 on Thursday. The firm’s 50 day moving average price is $200.03 and its two-hundred day moving average price is $217.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.45 and a current ratio of 3.41. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The stock has a market cap of $15.38 billion, a PE ratio of 26.73, a PEG ratio of 2.08 and a beta of 0.95.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.02. The business had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the company earned $2.18 EPS. As a group, analysts forecast that IDEX will post 7.85 EPS for the current year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, July 12th. IDEX’s dividend payout ratio (DPR) is 36.32%.

Institutional Investors Weigh In On IDEX

Large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in IDEX by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after acquiring an additional 555,250 shares in the last quarter. Norges Bank acquired a new position in shares of IDEX during the 4th quarter worth about $237,425,000. Charles Schwab Investment Management Inc. raised its holdings in shares of IDEX by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock valued at $132,164,000 after purchasing an additional 15,202 shares during the period. Hsbc Holdings PLC lifted its stake in IDEX by 75.6% in the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after purchasing an additional 223,422 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in IDEX by 19.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 492,810 shares of the industrial products company’s stock worth $106,994,000 after purchasing an additional 81,780 shares during the period. Institutional investors and hedge funds 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.