IDEX Corp. (IEX) Hits New 52-Week High at $93.47
Shares of IDEX Corp. (NYSE:IEX) hit a new 52-week high on Friday . The stock traded as high as $93.47 and last traded at $93.36, with a volume of 57,097 shares changing hands. The stock had previously closed at $92.89.
Several analysts have weighed in on IEX shares. Zacks Investment Research downgraded IDEX Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. KeyCorp started coverage on IDEX Corp. in a research note on Monday, May 23rd. They set a “sector weight” rating on the stock. Janney Montgomery Scott raised IDEX Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the company from $87.00 to $96.00 in a research note on Tuesday, July 19th. Jefferies Group reaffirmed a “hold” rating on shares of IDEX Corp. in a research note on Tuesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of IDEX Corp. in a research note on Tuesday, July 12th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. IDEX Corp. has an average rating of “Hold” and an average target price of $85.86.
The stock has a 50 day moving average price of $88.27 and a 200 day moving average price of $82.61. The company has a market cap of $7.15 billion and a P/E ratio of 24.89.
IDEX Corp. (NYSE:IEX) last released its quarterly earnings data on Monday, July 18th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.06. The company earned $549.70 million during the quarter. During the same quarter in the prior year, the company posted $0.89 EPS. On average, equities research analysts anticipate that IDEX Corp. will post $3.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.45%.
In related news, Chairman Andrew K. Silvernail sold 6,575 shares of the 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 directly owns 88,418 shares in the company, valued at approximately $8,076,100.12. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $83.27, for a total value 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 disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. Utah Retirement Systems raised its stake in 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 period. Victory Capital Management Inc. raised its stake in IDEX Corp. by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 14,164 shares of the company’s stock worth $1,085,000 after buying an additional 335 shares during the period. KBC Group NV raised its stake in 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 period. Finally, Schwab Charles Investment Management Inc. raised its stake in IDEX Corp. by 6.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 224,001 shares of the company’s stock worth $17,161,000 after buying an additional 13,163 shares during the period.
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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