IDEX Co. (NYSE:IEX) Receives $241.14 Average Price Target from Brokerages

IDEX Co. (NYSE:IEX - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $241.14.

IEX has been the topic of a number of research reports. Royal Bank of Canada lifted their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Argus cut shares of IDEX from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Robert W. Baird lowered their price target on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. TD Cowen lowered their price target on shares of IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Finally, DA Davidson lowered their price target on shares of IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, August 5th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IEX. Wellington Management Group LLP increased its holdings in shares of IDEX by 108.4% in the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company's stock worth $607,234,000 after purchasing an additional 1,472,456 shares during the period. Van ECK Associates Corp increased its holdings in shares of IDEX by 9,424.6% in the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company's stock worth $211,473,000 after purchasing an additional 1,021,439 shares during the period. Champlain Investment Partners LLC increased its holdings in shares of IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company's stock worth $262,479,000 after purchasing an additional 273,460 shares during the period. Hsbc Holdings PLC grew its position in IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company's stock worth $104,179,000 after acquiring an additional 223,422 shares in the last quarter. Finally, DF Dent & Co. Inc. purchased a new position in IDEX in the third quarter worth $31,747,000. Institutional investors own 97.96% of the company's stock.

IDEX Stock Performance

Shares of NYSE IEX traded down $0.47 during midday trading on Friday, reaching $230.63. The company's stock had a trading volume of 268,772 shares, compared to its average volume of 482,925. IDEX has a 12-month low of $189.51 and a 12-month high of $246.36. The firm has a 50 day moving average price of $217.66 and a 200-day moving average price of $208.26. The stock has a market capitalization of $17.46 billion, a P/E ratio of 35.70, a PEG ratio of 2.44 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same quarter in the previous year, the business earned $2.12 EPS. The company's revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that IDEX will post 7.89 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.20%. IDEX's payout ratio is 42.72%.

About IDEX

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.