IDEX Co. (NYSE:IEX) Receives $243.14 Consensus PT from Brokerages

IDEX Co. (NYSE:IEX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $243.14.

A number of brokerages have recently commented on IEX. Citigroup boosted their price target on IDEX from $251.00 to $269.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Stifel Nicolaus increased their target price on IDEX from $244.00 to $256.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Robert W. Baird reduced their price target on IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada upped their price target on shares of IDEX from $248.00 to $258.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th.

Institutional Investors Weigh In On IDEX

Large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in IDEX by 0.5% in the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company's stock worth $647,356,000 after purchasing an additional 15,077 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of IDEX by 108.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company's stock worth $607,234,000 after acquiring an additional 1,472,456 shares during the last quarter. Geode Capital Management LLC grew its position in shares of IDEX by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company's stock valued at $404,339,000 after acquiring an additional 23,388 shares during the period. Champlain Investment Partners LLC lifted its position in IDEX by 28.8% during the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company's stock valued at $262,479,000 after purchasing an additional 273,460 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of IDEX by 1.2% during the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company's stock valued at $252,603,000 after acquiring an additional 14,360 shares during the period. Institutional investors own 97.96% of the company's stock.

IDEX Stock Up 0.7 %

IEX traded up $1.52 during trading on Wednesday, reaching $212.28. The stock had a trading volume of 156,266 shares, compared to its average volume of 489,467. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 2.41 and a beta of 0.96. The stock's 50 day moving average is $221.60 and its two-hundred day moving average is $209.34. IDEX has a one year low of $189.51 and a one year high of $246.36.

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

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, January 17th. IDEX's payout ratio is presently 42.72%.

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.