IDEX Corp. (IEX) Given a $101.00 Price Target at RBC Capital Markets
IDEX Corp. (NYSE:IEX) received a $101.00 price target from research analysts at RBC Capital Markets in a report issued on Wednesday. The brokerage currently has a a “buy” rating on the stock. RBC Capital Markets’ price target points to a potential upside of 17.01% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Janney Montgomery Scott raised shares of IDEX Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $87.00 to $96.00 in a research report on Tuesday, July 19th. Zacks Investment Research raised shares of IDEX Corp. from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Thursday, July 14th. Royal Bank Of Canada reissued a “buy” rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. Stifel Nicolaus boosted their price target on shares of IDEX Corp. from $88.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Jefferies Group reissued a “hold” rating on shares of IDEX Corp. in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.89.
Shares of IDEX Corp. (NYSE:IEX) traded down 0.53% during midday trading on Wednesday, reaching $86.32. The company’s stock had a trading volume of 372,017 shares. The company has a 50 day moving average of $90.77 and a 200-day moving average of $86.97. IDEX Corp. has a 52 week low of $67.20 and a 52 week high of $95.33. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 22.88 and a beta of 1.16.
IDEX Corp. (NYSE:IEX) last released its quarterly earnings data on Monday, October 17th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.92. The business earned $530.40 million during the quarter, compared to analysts’ expectations of $536.29 million. IDEX Corp. had a net margin of 13.52% and a return on equity of 19.15%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 EPS. Equities research analysts predict that IDEX Corp. will post $3.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.58%. IDEX Corp.’s dividend payout ratio (DPR) is 37.06%.
In other news, Director Gregory F. Milzcik sold 4,830 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $90.00, for a total transaction of $434,700.00. Following the transaction, the director now directly owns 5,375 shares in the company, valued at $483,750. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Andrew K. Silvernail sold 6,575 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was 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 disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of IDEX Corp. by 12.7% in the first quarter. Wellington Management Group LLP now owns 2,571,528 shares of the company’s stock worth $213,127,000 after buying an additional 289,735 shares during the period. Schroder Investment Management Group increased its stake in IDEX Corp. by 12.0% in the second quarter. Schroder Investment Management Group now owns 807,280 shares of the company’s stock worth $66,278,000 after buying an additional 86,700 shares in the last quarter. Ameriprise Financial Inc. increased its stake in IDEX Corp. by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 207,547 shares of the company’s stock worth $17,040,000 after buying an additional 945 shares in the last quarter. Geode Capital Management LLC increased its stake in IDEX Corp. by 6.7% in the first quarter. Geode Capital Management LLC now owns 468,847 shares of the company’s stock worth $38,858,000 after buying an additional 29,509 shares in the last quarter. Finally, BlackRock Inc. increased its stake in IDEX Corp. by 12.1% in the first quarter. BlackRock Inc. now owns 85,863 shares of the company’s stock worth $7,117,000 after buying an additional 9,263 shares in the last quarter. Institutional investors and hedge funds own 97.49% of the company’s stock.
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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