IDEX Corp. (IEX) Hits New 52-Week High at $92.10
IDEX Corp. (NYSE:IEX) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $92.10 and last traded at $91.88, with a volume of 74,068 shares trading hands. The stock had previously closed at $91.88.
IEX has been the topic of a number of research analyst reports. Janney Montgomery Scott raised IDEX Corp. from a “neutral” rating to a “buy” rating and increased their target price for the company from $87.00 to $96.00 in a research note on Tuesday, July 19th. Zacks Investment Research raised IDEX Corp. from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Thursday, July 14th. Royal Bank Of Canada reissued a “buy” rating on shares of IDEX Corp. in a research note on Tuesday, July 12th. Jefferies Group reissued a “hold” rating on shares of IDEX Corp. in a research note on Tuesday, July 19th. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of IDEX Corp. in a research note on Monday, April 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. IDEX Corp. currently has an average rating of “Hold” and a consensus target price of $85.86.
The stock has a 50 day moving average of $86.34 and a 200-day moving average of $81.65. The firm has a market cap of $7.02 billion and a P/E ratio of 24.45.
IDEX Corp. (NYSE:IEX) last released its quarterly earnings results on Monday, July 18th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.93 by $0.06. During the same period last year, the business posted $0.89 EPS. The business earned $549.70 million during the quarter. Equities analysts predict that IDEX Corp. will post $3.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.47%.
In other IDEX Corp. news, Chairman Andrew K. Silvernail sold 6,575 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $91.34, for a total transaction of $600,560.50. Following the completion of the transaction, the chairman now owns 88,418 shares in the company, valued at approximately $8,076,100.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew K. Silvernail sold 6,200 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $81.42, for a total transaction of $504,804.00. Following the transaction, the chief executive officer now owns 94,993 shares of the company’s stock, valued at approximately $7,734,330.06. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in IEX. BlackRock Advisors LLC increased its position in shares of IDEX Corp. by 5.4% in the fourth quarter. BlackRock Advisors LLC now owns 139,549 shares of the company’s stock worth $10,691,000 after buying an additional 7,181 shares during the last quarter. Utah Retirement Systems increased its position in shares of IDEX Corp. by 0.7% in the fourth quarter. Utah Retirement Systems now owns 13,988 shares of the company’s stock worth $1,072,000 after buying an additional 100 shares during the last quarter. KBC Group NV increased its position in shares of IDEX Corp. by 292.3% in the fourth quarter. KBC Group NV now owns 39,579 shares of the company’s stock worth $3,032,000 after buying an additional 29,491 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of IDEX Corp. during the fourth quarter worth approximately $6,695,000. Finally, Suntrust Banks Inc. increased its position in shares of IDEX Corp. by 2.3% in the fourth quarter. Suntrust Banks Inc. now owns 28,051 shares of the company’s stock worth $2,147,000 after buying an additional 636 shares during the last quarter.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP).
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