IDEX Corp. (IEX) Hits New 1-Year High at $88.74
IDEX Corp. (NYSE:IEX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $88.74 and last traded at $88.62, with a volume of 159,195 shares changing hands. The stock had previously closed at $88.23.
Several brokerages recently issued reports on IEX. Sanford C. Bernstein lowered shares of IDEX Corp. from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $82.00 to $86.00 in a report on Monday, April 4th. BMO Capital Markets began coverage on shares of IDEX Corp. in a report on Tuesday, April 5th. They set a “market perform” rating and a $82.00 price target on the stock. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of IDEX Corp. in a report on Monday, April 18th. Zacks Investment Research raised shares of IDEX Corp. from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Friday, April 22nd. Finally, KeyCorp began coverage on shares of IDEX Corp. in a report on Monday, May 23rd. They set a “sector weight” rating on the stock. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $85.86.
The company has a market cap of $6.72 billion and a P/E ratio of 23.52. The stock’s 50-day moving average price is $84.72 and its 200-day moving average price is $80.11.
IDEX Corp. (NYSE:IEX) last announced its earnings results on Monday, July 18th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. During the same quarter in the prior year, the company earned $0.89 earnings per share. The company earned $549.70 million during the quarter. Analysts expect that IDEX Corp. will post $3.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Wednesday, July 13th.
In other IDEX Corp. news, CEO Andrew K. Silvernail sold 6,200 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $81.42, for a total transaction of $504,804.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Daniel J. Salliotte sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were 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 $2,465,624.70. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have modified their holdings of IEX. Marshall Wace LLP acquired a new position in shares of IDEX Corp. during the fourth quarter worth approximately $6,695,000. Vanguard Group Inc. boosted its position in shares of IDEX Corp. by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,146,612 shares of the company’s stock valued at $394,281,000 after buying an additional 65,343 shares in the last quarter. KBC Group NV boosted its position in shares of 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 in the last quarter. BlackRock Advisors LLC boosted its position in shares of IDEX Corp. by 5.4% in the fourth quarter. BlackRock Advisors LLC now owns 139,549 shares of the company’s stock valued at $10,691,000 after buying an additional 7,181 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of IDEX Corp. by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 424,449 shares of the company’s stock valued at $32,517,000 after buying an additional 7,054 shares in 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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