IDEX Corp. (IEX) Reaches New 1-Year High at $93.47
Shares of IDEX Corp. (NYSE:IEX) reached a new 52-week high on Friday . The stock traded as high as $93.47 and last traded at $93.36, with a volume of 57,097 shares changing hands. The stock had previously closed at $92.89.
Several analysts have weighed in on the company. Zacks Investment Research cut IDEX Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Jefferies Group reissued a “hold” rating on shares of IDEX Corp. in a report on Tuesday, July 19th. Janney Montgomery Scott raised IDEX Corp. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $87.00 to $96.00 in a report on Tuesday, July 19th. Royal Bank Of Canada reissued a “buy” rating on shares of IDEX Corp. in a report on Tuesday, July 12th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of IDEX Corp. in a report on Monday, June 27th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. IDEX Corp. has an average rating of “Hold” and an average target price of $85.86.
The company has a 50-day moving average price of $87.93 and a 200 day moving average price of $82.45. The company has a market cap of $7.13 billion and a price-to-earnings ratio of 24.84.
IDEX Corp. (NYSE:IEX) last released its quarterly earnings data on Monday, July 18th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The business earned $549.70 million during the quarter. During the same period last year, the business posted $0.89 earnings per share. Equities analysts predict that IDEX Corp. will post $3.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Wednesday, July 13th.
In other news, SVP Daniel J. Salliotte sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $83.27, for a total value of $333,080.00. Following the completion of the transaction, the senior vice president now owns 29,610 shares of the company’s stock, valued at $2,465,624.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Andrew K. Silvernail sold 6,575 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $91.34, for a total value of $600,560.50. Following the completion of the transaction, the chairman now directly owns 88,418 shares of the company’s stock, valued at approximately $8,076,100.12. The disclosure for this sale can be found here.
Other institutional investors have added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in IDEX Corp. by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 424,449 shares of the company’s stock worth $32,517,000 after buying an additional 7,054 shares during the period. Schwab Charles Investment Management Inc. raised its position in IDEX Corp. by 6.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 224,001 shares of the company’s stock worth $17,161,000 after buying an additional 13,163 shares during the period. Marshall Wace LLP acquired a new position in IDEX Corp. during the fourth quarter worth $6,695,000. KBC Group NV raised its position in 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 period. Finally, Suntrust Banks Inc. raised its position in 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 period.
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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