IDEX Co. Plans Quarterly Dividend of $0.69 (NYSE:IEX)

IDEX Co. (NYSE:IEXGet Free Report) declared a quarterly dividend on Thursday, June 20th, RTT News reports. Shareholders of record on Friday, July 12th will be given a dividend of 0.69 per share by the industrial products company on Friday, July 26th. This represents a $2.76 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, July 12th.

IDEX has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect IDEX to earn $9.18 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 30.1%.

IDEX Stock Performance

Shares of IEX opened at $198.45 on Thursday. The company has a market capitalization of $15.02 billion, a PE ratio of 26.11, a P/E/G ratio of 1.96 and a beta of 0.95. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a 50-day simple moving average of $208.58 and a 200-day simple moving average of $220.27. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEXGet Free Report) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company posted $2.09 earnings per share. Equities research analysts predict that IDEX will post 8.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on IEX shares. Oppenheimer boosted their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Citigroup raised their price target on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Finally, Robert W. Baird decreased their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $250.71.

Check Out Our Latest Stock Analysis on IEX

IDEX Company Profile

(Get Free Report)

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Dividend History for IDEX (NYSE:IEX)

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