IDEX Corp. (IEX) Hits New 12-Month High at $94.61
IDEX Corp. (NYSE:IEX) shares reached a new 52-week high on Friday . The company traded as high as $94.61 and last traded at $94.10, with a volume of 80,522 shares trading hands. The stock had previously closed at $93.99.
A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of IDEX Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Janney Montgomery Scott started coverage on shares of IDEX Corp. in a research report on Tuesday, June 21st. They issued a “neutral” rating and a $87.00 price objective for the company. Royal Bank Of Canada reissued a “buy” rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. Jefferies Group reissued a “hold” rating on shares of IDEX Corp. in a research report on Tuesday, July 19th. Finally, KeyCorp started coverage on shares of IDEX Corp. in a research report on Monday, May 23rd. They issued a “sector weight” rating for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. IDEX Corp. currently has a consensus rating of “Hold” and a consensus target price of $85.86.
The company has a 50 day moving average of $89.45 and a 200 day moving average of $83.23. The company has a market capitalization of $7.16 billion and a price-to-earnings ratio of 24.92.
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 the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The business had revenue of $549.70 million for the quarter. During the same quarter last year, the firm posted $0.89 EPS. On average, analysts forecast 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. Shareholders of record on Friday, July 15th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $1.36 annualized dividend and a yield of 1.45%.
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 transaction, the chairman now owns 88,418 shares in the company, valued at $8,076,100.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Daniel J. Salliotte sold 4,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $83.27, for a total transaction of $333,080.00. Following the transaction, the senior vice president now owns 29,610 shares in the company, valued at approximately $2,465,624.70. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Utah Retirement Systems increased its position 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. increased its position 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. Finally, KBC Group NV increased 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 valued at $3,032,000 after buying an additional 29,491 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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