IDEX Corp. (IEX) Reaches New 52-Week High at $88.74
IDEX Corp. (NYSE:IEX)’s share price hit 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 trading hands. The stock had previously closed at $88.23.
Several equities analysts have recently commented on the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of IDEX Corp. in a research note on Monday, June 27th. 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 report on Thursday, July 14th. Royal Bank Of Canada reiterated a “buy” rating on shares of IDEX Corp. in a report on Tuesday, July 12th. Janney Montgomery Scott began coverage on IDEX Corp. in a report on Tuesday, June 21st. They issued a “neutral” rating and a $87.00 price objective on the stock. Finally, Jefferies Group reiterated a “hold” rating on shares of IDEX Corp. in a report on Tuesday, July 19th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. IDEX Corp. has a consensus rating of “Hold” and a consensus target price of $85.86.
The firm has a market cap of $6.74 billion and a price-to-earnings ratio of 23.60. The company’s 50-day moving average price is $84.85 and its 200-day moving average price is $80.24.
IDEX Corp. (NYSE:IEX) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.06. During the same quarter last year, the business earned $0.89 EPS. The business had revenue of $549.70 million for the quarter. Analysts forecast that IDEX Corp. will post $3.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, July 13th.
In other news, 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 transaction of $333,080.00. Following the sale, the senior vice president now owns 29,610 shares in the company, valued at $2,465,624.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief executive officer now owns 94,993 shares in the company, valued at approximately $7,734,330.06. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of the stock. 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 worth $10,691,000 after buying an additional 7,181 shares during the last quarter. Utah Retirement Systems boosted its position in shares of IDEX Corp. by 0.7% in the fourth quarter. Utah Retirement Systems now owns 13,988 shares of the company’s stock worth $1,072,000 after buying an additional 100 shares during 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 worth $3,032,000 after buying an additional 29,491 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of IDEX Corp. during the fourth quarter worth $6,695,000. Finally, Suntrust Banks Inc. boosted its position in shares of IDEX Corp. by 2.3% in the fourth quarter. Suntrust Banks Inc. now owns 28,051 shares of the company’s stock worth $2,147,000 after buying an additional 636 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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