IDEX (NYSE:IEX) Shares Pass Above Two Hundred Day Moving Average - What's Next?

IDEX Co. (NYSE:IEX - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $209.58 and traded as high as $211.40. IDEX shares last traded at $206.06, with a volume of 379,791 shares trading hands.

Analyst Upgrades and Downgrades

IEX has been the topic of a number of recent analyst reports. Citigroup boosted their target price on IDEX from $251.00 to $269.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Stifel Nicolaus increased their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Robert W. Baird reduced their target price on shares of 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 increased their price target on shares of IDEX from $248.00 to $258.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $243.14.

IDEX Stock Up 0.5 %

The stock's fifty day simple moving average is $221.92 and its 200-day simple moving average is $209.63. The stock has a market cap of $15.68 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

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 analysts' consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 earnings per share. As a group, research analysts forecast that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, January 17th. IDEX's dividend payout ratio (DPR) is presently 42.72%.

Hedge Funds Weigh In On IDEX

Hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its holdings in shares of IDEX by 1.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company's stock worth $1,303,000 after buying an additional 61 shares in the last quarter. Mascoma Wealth Management LLC bought a new position in shares of IDEX in the second quarter worth about $51,000. TD Asset Management Inc boosted its stake in shares of IDEX by 6.4% in the 2nd quarter. TD Asset Management Inc now owns 159,241 shares of the industrial products company's stock valued at $32,039,000 after purchasing an additional 9,561 shares in the last quarter. National Bank of Canada FI increased its position in IDEX by 414.5% during the 2nd quarter. National Bank of Canada FI now owns 85,898 shares of the industrial products company's stock worth $16,827,000 after purchasing an additional 69,201 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in IDEX by 2.8% in the 2nd quarter. Victory Capital Management Inc. now owns 58,197 shares of the industrial products company's stock valued at $11,709,000 after purchasing an additional 1,576 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

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.