IDEX Corp. (IEX) Shares Gap Up to $81.47
IDEX Corp. (NYSE:IEX) shares gapped up prior to trading on Thursday . The stock had previously closed at $81.29, but opened at $81.47. IDEX Corp. shares last traded at $82.00, with a volume of 103,094 shares.
Several research analysts recently commented on IEX shares. Sanford C. Bernstein downgraded shares of IDEX Corp. from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $82.00 to $86.00 in a research note on Monday, April 4th. BMO Capital Markets assumed coverage on shares of IDEX Corp. in a research report on Tuesday, April 5th. They set a “market perform” rating and a $82.00 price objective on the stock. Zacks Investment Research raised shares of IDEX Corp. from a “sell” rating to a “hold” rating in a research report on Monday, March 21st. Janney Montgomery Scott assumed coverage on shares of IDEX Corp. in a research report on Tuesday, June 21st. They set a “neutral” rating and a $87.00 price objective on the stock. Finally, KeyCorp assumed coverage on shares of IDEX Corp. in a research report on Monday, May 23rd. They set a “sector weight” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $84.29.
The firm has a market cap of $6.36 billion and a PE ratio of 22.84. The company’s 50 day moving average price is $83.86 and its 200 day moving average price is $79.19.
IDEX Corp. (NYSE:IEX) last issued its quarterly earnings results on Monday, April 18th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.08. During the same quarter in the prior year, the business earned $0.84 earnings per share. The company earned $502.60 million during the quarter, compared to the consensus estimate of $492.98 million. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts forecast that IDEX Corp. will post $3.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be given a $0.34 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.62%.
In related news, CEO Andrew K. Silvernail sold 6,200 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $81.42, for a total value of $504,804.00. Following the completion of the sale, the chief executive officer now directly owns 94,993 shares in the company, valued at $7,734,330.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Daniel J. Salliotte sold 4,000 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 29,610 shares of the company’s stock, valued at $2,465,624.70. The disclosure for this sale can be found here.
A number of hedge funds recently modified their holdings of IEX. Neuberger Berman Group LLC increased its stake in shares of IDEX Corp. by 236.6% in the fourth quarter. Neuberger Berman Group LLC now owns 197,871 shares of the company’s stock worth $15,159,000 after buying an additional 139,080 shares in the last quarter. Sei Investments Co. raised its stake in IDEX Corp. by 1,615.5% in the fourth quarter. Sei Investments Co. now owns 113,686 shares of the company’s stock worth $8,709,000 after buying an additional 107,059 shares during the last quarter. Marshall Wace LLP acquired a new stake in IDEX Corp. during the fourth quarter worth $6,695,000. Vanguard Group Inc. raised its stake in IDEX Corp. by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,146,612 shares of the company’s stock worth $394,281,000 after buying an additional 65,343 shares during the last quarter. Finally, SECOR Capital Advisors LP acquired a new stake in IDEX Corp. during the fourth quarter worth $2,499,000.
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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