IDEX Corp. (IEX) Shares Gap Up to $92.10
IDEX Corp. (NYSE:IEX) shares gapped up prior to trading on Thursday . The stock had previously closed at $92.00, but opened at $92.10. IDEX Corp. shares last traded at $92.41, with a volume of 69,716 shares.
Several research analysts have issued reports on the company. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of IDEX Corp. in a report on Monday, April 18th. Jefferies Group reiterated a “hold” rating on shares of IDEX Corp. in a report on Tuesday, July 19th. Janney Montgomery Scott upgraded IDEX Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $87.00 to $96.00 in a report on Tuesday, July 19th. KeyCorp assumed coverage on IDEX Corp. in a report on Monday, May 23rd. They issued a “sector weight” rating on the stock. Finally, Zacks Investment Research upgraded IDEX Corp. from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Thursday, July 14th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. IDEX Corp. presently has a consensus rating of “Hold” and a consensus target price of $85.86.
The company’s 50 day moving average price is $86.51 and its 200 day moving average price is $81.82. The firm has a market capitalization of $7.03 billion and a P/E ratio of 24.48.
IDEX Corp. (NYSE:IEX) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $549.70 million for the quarter. During the same quarter in the previous year, the company posted $0.89 EPS. On average, analysts anticipate that IDEX Corp. will post $3.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a dividend of $0.34 per share. The ex-dividend date 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 IDEX Corp. stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $91.34, for a total transaction of $600,560.50. Following the sale, the chairman now directly owns 88,418 shares of the company’s stock, valued at approximately $8,076,100.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew K. Silvernail sold 6,200 shares of IDEX Corp. stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $81.42, for a total value of $504,804.00. Following the sale, the chief executive officer now directly owns 94,993 shares in the company, valued at $7,734,330.06. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of IEX. Utah Retirement Systems boosted its stake in IDEX Corp. by 0.7% in the fourth quarter. Utah Retirement Systems now owns 13,988 shares of the company’s stock valued at $1,072,000 after buying an additional 100 shares during the last quarter. Victory Capital Management Inc. boosted its stake in IDEX Corp. by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 14,164 shares of the company’s stock valued at $1,085,000 after buying an additional 335 shares during the last quarter. Suntrust Banks Inc. boosted its stake in IDEX Corp. by 2.3% in the fourth quarter. Suntrust Banks Inc. now owns 28,051 shares of the company’s stock valued at $2,147,000 after buying an additional 636 shares during the last quarter. KBC Group NV boosted its stake in IDEX Corp. by 292.3% in the fourth quarter. KBC Group NV now owns 39,579 shares of the company’s stock valued at $3,032,000 after buying an additional 29,491 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in IDEX Corp. during the fourth quarter valued at $6,695,000.
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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