Oppenheimer Trims IDEX (NYSE:IEX) Target Price to $238.00

IDEX (NYSE:IEX) had its price objective trimmed by Oppenheimer from $245.00 to $238.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other analysts have also recently commented on IEX. Stifel Nicolaus decreased their target price on IDEX from $265.00 to $236.00 and set a buy rating for the company in a research report on Thursday, July 18th. Citigroup raised their price objective on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Robert W. Baird dropped their target price on IDEX from $256.00 to $241.00 and set an outperform rating on the stock in a report on Friday, August 2nd. StockNews.com downgraded shares of IDEX from a buy rating to a hold rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada dropped their price objective on shares of IDEX from $250.00 to $236.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, IDEX presently has a consensus rating of Moderate Buy and a consensus price target of $235.33.

IDEX Trading Up 2.3 %

Shares of IEX opened at $194.86 on Monday. The company has a current ratio of 3.41, a quick ratio of 2.45 and a debt-to-equity ratio of 0.36. IDEX has a 1-year low of $183.76 and a 1-year high of $246.36. The stock has a market capitalization of $14.75 billion, a P/E ratio of 25.64, a P/E/G ratio of 2.08 and a beta of 0.95. The business’s 50-day moving average price is $201.50 and its 200 day moving average price is $218.90.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. The business had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. Analysts expect that IDEX will post 7.85 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were paid a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 annualized dividend and a dividend yield of 1.42%. IDEX’s dividend payout ratio (DPR) is 36.32%.

Institutional Investors Weigh In On IDEX

Several institutional investors and hedge funds have recently modified their holdings of the business. Albert D Mason Inc. raised its holdings in IDEX by 1.0% during the first quarter. Albert D Mason Inc. now owns 4,509 shares of the industrial products company’s stock valued at $1,100,000 after buying an additional 45 shares in the last quarter. UMB Bank n.a. raised its stake in shares of IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 57 shares in the last quarter. Whittier Trust Co. lifted its holdings in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the last quarter. Czech National Bank boosted its position in IDEX by 0.5% during the first quarter. Czech National Bank now owns 13,306 shares of the industrial products company’s stock worth $3,247,000 after purchasing an additional 61 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in IDEX by 1.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock valued at $1,303,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Company Profile

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.