IDEX (NYSE:IEX) Price Target Lowered to $267.00 at Citigroup

IDEX (NYSE:IEX) had its target price reduced by Citigroup from $269.00 to $267.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

IEX has been the topic of a number of other reports. Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. 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 report on Friday, December 6th. Finally, Robert W. Baird lowered their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.86.

IDEX Stock Up 2.1 %

Shares of NYSE:IEX opened at $210.41 on Monday. The firm has a market capitalization of $15.93 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The business has a 50 day simple moving average of $221.40 and a two-hundred day simple moving average of $210.02. IDEX has a 1 year low of $189.51 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (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 company had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the previous year, the business earned $2.12 EPS. IDEX’s revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that IDEX will post 7.89 EPS for the current year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio is presently 42.72%.

Hedge Funds Weigh In On IDEX

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