IDEX Corp. (NYSE:IEX) Receives Consensus Recommendation of “Hold” from Analysts
Shares of IDEX Corp. (NYSE:IEX) have been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the company. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $86.67.
IEX has been the topic of a number of research analyst reports. Janney Montgomery Scott upgraded IDEX Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $87.00 to $96.00 in a research note on Tuesday, July 19th. Zacks Investment Research upgraded IDEX Corp. from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Thursday, July 14th. Royal Bank Of Canada reiterated a “buy” rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. Jefferies Group reiterated a “hold” rating on shares of IDEX Corp. in a research report on Tuesday, July 19th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of IDEX Corp. in a research report on Monday, June 27th.
Shares of IDEX Corp. (NYSE:IEX) traded up 1.15% during midday trading on Wednesday, hitting $92.69. 106,778 shares of the stock traded hands. IDEX Corp. has a 1-year low of $67.20 and a 1-year high of $95.33. The stock has a 50 day moving average of $92.72 and a 200 day moving average of $86.58. The company has a market capitalization of $7.06 billion, a P/E ratio of 24.57 and a beta of 1.16.
IDEX Corp. (NYSE:IEX) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. IDEX Corp. had a return on equity of 19.49% and a net margin of 14.16%. The company had revenue of $549.70 million for the quarter. During the same quarter in the prior year, the company earned $0.89 EPS. Equities research analysts predict that IDEX Corp. will post $3.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Thursday, October 13th. IDEX Corp.’s dividend payout ratio (DPR) is currently 35.98%.
In related news, Director Gregory F. Milzcik sold 4,830 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $90.00, for a total value of $434,700.00. Following the sale, the director now directly owns 5,375 shares of the company’s stock, valued at $483,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andrew K. Silvernail sold 6,575 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $91.34, for a total value of $600,560.50. Following the completion of the sale, the chairman now directly owns 88,418 shares in the company, valued at $8,076,100.12. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Bank raised its stake in IDEX Corp. by 3.2% in the second quarter. Washington Trust Bank now owns 1,271 shares of the company’s stock valued at $104,000 after buying an additional 39 shares during the period. Pinkerton Retirement Specialists LLC acquired a new stake in IDEX Corp. during the second quarter valued at $169,000. Quantbot Technologies LP acquired a new stake in IDEX Corp. during the second quarter valued at $181,000. Synovus Financial Corp raised its stake in IDEX Corp. by 0.6% in the second quarter. Synovus Financial Corp now owns 2,358 shares of the company’s stock valued at $192,000 after buying an additional 13 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in IDEX Corp. during the second quarter valued at $205,000. 97.53% of the stock is currently owned by institutional investors and hedge funds.
IDEX Corp. Company Profile
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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