IDEX Co. (NYSE:IEX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of IDEX Co. (NYSE:IEX) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $241.14.

A number of research analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Robert W. Baird lowered their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus raised their target price on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. DA Davidson decreased their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Finally, Oppenheimer dropped their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th.

Hedge Funds Weigh In On IDEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IEX. Studio Investment Management LLC raised its position in shares of IDEX by 4.9% during the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 45 shares during the last quarter. UMB Bank n.a. increased its stake in 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 buying an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 57 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Down 0.2 %

IDEX stock opened at $230.73 on Friday. The business’s 50-day simple moving average is $217.22 and its two-hundred day simple moving average is $208.23. 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 company has a market cap of $17.47 billion, a PE ratio of 35.72, a PEG ratio of 2.44 and a beta of 0.96. IDEX has a fifty-two week low of $189.51 and a fifty-two week high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the prior year, the firm earned $2.12 earnings per share. IDEX’s revenue for the quarter was up .6% on a year-over-year basis. 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. Stockholders of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date 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 (DPR) is 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.