IDEX (NYSE:IEX) Given New $269.00 Price Target at Citigroup

IDEX (NYSE:IEX) had its price target lifted by Citigroup from $251.00 to $269.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities analysts also recently issued reports on IEX. Royal Bank of Canada raised their price objective on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird reduced their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Three equities research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.43.

IDEX Stock Performance

IDEX stock opened at $229.56 on Monday. The stock has a market cap of $17.38 billion, a PE ratio of 35.54, a P/E/G ratio of 2.43 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $219.73 and its two-hundred day moving average price is $208.48. IDEX has a 12-month low of $189.51 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings data 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 analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. IDEX’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 EPS. As a group, analysts expect that IDEX will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared 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 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 presently 42.72%.

Hedge Funds Weigh In On IDEX

Several institutional investors and hedge funds have recently bought and sold shares of the company. Studio Investment Management LLC lifted 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 valued at $205,000 after buying an additional 45 shares during the last quarter. UMB Bank n.a. lifted its holdings in IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in IDEX by 19.9% during the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 57 shares during the period. Whittier Trust Co. increased 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 purchasing an additional 58 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

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.