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

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

Several other brokerages have also recently weighed in on IEX. 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. Argus cut IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.57.

IDEX Trading Up 0.6 %

NYSE IEX opened at $229.71 on Friday. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.41 and a beta of 0.96. IDEX has a twelve month low of $189.51 and a twelve month high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The firm’s 50 day moving average price is $219.43 and its two-hundred day moving average price is $208.38.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million for 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%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business earned $2.12 earnings per share. Equities analysts anticipate that IDEX will post 7.89 EPS for the current year.

IDEX Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.20%. IDEX’s dividend payout ratio is presently 42.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of IDEX by 0.5% in the 3rd quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after buying an additional 15,077 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of IDEX by 108.4% during the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after acquiring an additional 1,472,456 shares in the last quarter. Geode Capital Management LLC boosted its stake in IDEX by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock worth $404,339,000 after purchasing an additional 23,388 shares during the period. Champlain Investment Partners LLC grew its stake in IDEX by 28.8% during the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after acquiring an additional 273,460 shares in the last quarter. Finally, Barclays PLC raised its position in shares of IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after buying an additional 14,360 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

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.