Brokerages Set IDEX Co. (NYSE:IEX) PT at $241.14

IDEX Co. (NYSE:IEX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $241.14.

A number of equities research analysts have recently commented on IEX shares. Oppenheimer dropped their price target on IDEX from $245.00 to $238.00 and set an "outperform" rating on the stock in a research report on Monday, August 5th. Robert W. Baird cut their price target on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. DA Davidson dropped their price objective 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. Stifel Nicolaus increased their target price on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, StockNews.com lowered IDEX from a "buy" rating to a "hold" rating in a report on Thursday, July 11th.

Institutional Trading of IDEX

A number of hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its position in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock worth $48,000 after purchasing an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in IDEX by 19.9% during the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 57 shares in the last quarter. Whittier Trust Co. lifted its position in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $42,000 after buying an additional 58 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of IDEX by 1.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company's stock worth $1,303,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Trading Up 2.6 %

IEX stock traded up $5.74 during midday trading on Tuesday, reaching $224.74. The stock had a trading volume of 655,532 shares, compared to its average volume of 469,181. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. IDEX has a twelve month low of $189.33 and a twelve month high of $246.36. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 2.29 and a beta of 0.96. The business has a fifty day simple moving average of $207.36 and a two-hundred day simple moving average of $207.31.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly 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. The business had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. IDEX's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.12 earnings per share. As a group, research analysts expect that IDEX will post 7.87 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.69 per share. The ex-dividend date was Friday, October 11th. This represents a $2.76 annualized dividend and a dividend yield of 1.23%. IDEX's dividend 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.