IDEX Corporation (NYSE:IEX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of IDEX Corporation (NYSE:IEX) have been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $196.8571.

IEX has been the subject of several analyst reports. Royal Bank Of Canada dropped their target price on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Citigroup raised their target price on shares of IDEX from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Cowen reaffirmed a “buy” rating on shares of IDEX in a research note on Wednesday, December 3rd. Finally, Stifel Nicolaus dropped their price target on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th.

Institutional Investors Weigh In On IDEX

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of IDEX by 48.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,545 shares of the industrial products company’s stock valued at $2,307,000 after acquiring an additional 4,112 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in IDEX by 127.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 625 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 350 shares in the last quarter. GoalVest Advisory LLC bought a new position in IDEX in the 4th quarter worth $26,000. Mirova lifted its position in shares of IDEX by 6.7% in the 3rd quarter. Mirova now owns 52,948 shares of the industrial products company’s stock worth $8,618,000 after purchasing an additional 3,337 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of IDEX by 83.8% during the 3rd quarter. Allworth Financial LP now owns 272 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 2.3%

IEX stock opened at $184.65 on Friday. The company has a market capitalization of $13.82 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.93. IDEX has a one year low of $153.36 and a one year high of $226.04. The company’s 50 day moving average price is $174.34 and its two-hundred day moving average price is $170.72.

IDEX (NYSE:IEX) last issued its earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The company had revenue of $712.00 million for the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. IDEX has set its FY 2025 guidance at 7.860-7.91 EPS. As a group, analysts predict that IDEX will post 8.26 earnings per share for the current fiscal year.

IDEX announced that its board has initiated a stock buyback program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $2.84 annualized dividend and a dividend yield of 1.5%. IDEX’s dividend payout ratio (DPR) is presently 44.94%.

IDEX Company Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.