IDEX Corp. (IEX) Shares Gap Up to $92.10
IDEX Corp. (NYSE:IEX) shares gapped up before the market opened on Thursday . The stock had previously closed at $92.00, but opened at $92.10. IDEX Corp. shares last traded at $92.41, with a volume of 69,716 shares traded.
A number of research analysts recently issued reports on IEX shares. Zacks Investment Research downgraded IDEX Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. KeyCorp started coverage on IDEX Corp. in a research note on Monday, May 23rd. They set a “sector weight” rating on the stock. Sanford C. Bernstein restated a “market perform” rating on shares of IDEX Corp. in a research note on Monday, June 27th. Janney Montgomery Scott upgraded IDEX Corp. from a “neutral” rating to a “buy” rating and raised their price target for the stock from $87.00 to $96.00 in a research note on Tuesday, July 19th. Finally, Jefferies Group restated a “hold” rating on shares of IDEX Corp. in a research note on Tuesday, July 19th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $85.86.
The firm has a market capitalization of $7.06 billion and a price-to-earnings ratio of 24.58. The company’s 50 day moving average is $86.34 and its 200-day moving average is $81.65.
IDEX Corp. (NYSE:IEX) last released its quarterly earnings results on Monday, July 18th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. During the same quarter last year, the business posted $0.89 EPS. The business earned $549.70 million during the quarter. Equities analysts anticipate that IDEX Corp. will post $3.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Wednesday, July 13th.
In other IDEX Corp. news, Chairman Andrew K. Silvernail sold 6,575 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $91.34, for a total transaction of $600,560.50. Following the sale, the chairman now owns 88,418 shares in the company, valued at $8,076,100.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew K. Silvernail sold 6,200 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were 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 have recently made changes to their positions in IEX. Vanguard Group Inc. boosted its stake 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 during the last quarter. Principal Financial Group Inc. boosted its stake 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 during the last quarter. BlackRock Advisors LLC boosted its stake 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 during the last quarter. Marshall Wace LLP purchased a new stake in shares of IDEX Corp. during the fourth quarter valued at about $6,695,000. Finally, KBC Group NV boosted its stake 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 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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