Rosenblatt Securities reaffirmed their buy rating on shares of IDEX (NYSE:IEX) in a research report report published on Wednesday, December 4th, AnalystRatings.com reports. Rosenblatt Securities currently has a $185.00 price objective on the industrial products company’s stock.
Other equities analysts also recently issued research reports about the company. Citigroup began coverage on IDEX in a research report on Monday, September 30th. They set a neutral rating and a $175.00 price target on the stock. ValuEngine downgraded IDEX from a buy rating to a hold rating in a report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. IDEX presently has an average rating of Hold and an average target price of $180.43.
NYSE IEX opened at $171.37 on Wednesday. The stock has a market cap of $12.78 billion, a PE ratio of 31.68, a PEG ratio of 2.89 and a beta of 1.21. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.39. IDEX has a 12 month low of $117.72 and a 12 month high of $173.84. The company’s 50-day moving average price is $162.26 and its 200-day moving average price is $163.49.
IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.06. The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $641.66 million. IDEX had a net margin of 17.05% and a return on equity of 21.28%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. As a group, sell-side analysts forecast that IDEX will post 5.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $2.00 annualized dividend and a yield of 1.17%. IDEX’s dividend payout ratio (DPR) is presently 36.97%.
In other IDEX news, CAO Michael J. Yates sold 14,871 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $162.76, for a total transaction of $2,420,403.96. Following the completion of the sale, the chief accounting officer now directly owns 6,197 shares of the company’s stock, valued at $1,008,623.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ernest J. Mrozek sold 6,650 shares of IDEX stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $160.24, for a total transaction of $1,065,596.00. Following the completion of the transaction, the director now directly owns 16,255 shares in the company, valued at approximately $2,604,701.20. The disclosure for this sale can be found here. Insiders sold a total of 54,543 shares of company stock worth $8,833,294 over the last quarter. Company insiders own 1.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. increased its position in shares of IDEX by 0.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 69,239 shares of the industrial products company’s stock worth $10,506,000 after purchasing an additional 301 shares in the last quarter. Strs Ohio raised its stake in IDEX by 131.8% in the second quarter. Strs Ohio now owns 7,737 shares of the industrial products company’s stock valued at $1,331,000 after buying an additional 4,399 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in IDEX by 54.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 367,479 shares of the industrial products company’s stock worth $63,258,000 after acquiring an additional 130,169 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in IDEX by 30.4% in the second quarter. Janney Montgomery Scott LLC now owns 11,074 shares of the industrial products company’s stock worth $1,906,000 after acquiring an additional 2,584 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of IDEX by 10.7% during the second quarter. First Trust Advisors LP now owns 131,028 shares of the industrial products company’s stock worth $22,555,000 after acquiring an additional 12,687 shares during the last quarter. 97.39% of the stock is owned by institutional investors.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
Further Reading: Are sell-side analysts objective?
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