IDEX Co. (NYSE:IEX – Get Free Report) 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.
Get Our Latest Analysis on IDEX
IDEX Price Performance
IDEX (NYSE:IEX – Get Free Report) 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.
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