IDEX (NYSE:IEX) Given New $258.00 Price Target at Royal Bank of Canada

IDEX (NYSE:IEX - Free Report) had its target price hoisted by Royal Bank of Canada from $248.00 to $258.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the industrial products company's stock.

Other equities analysts also recently issued reports about the stock. Argus downgraded shares of IDEX from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Robert W. Baird decreased their target price on IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price target on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, IDEX has an average rating of "Moderate Buy" and a consensus target price of $242.57.

IDEX Stock Up 0.6 %

Shares of NYSE:IEX traded up $1.26 during midday trading on Friday, reaching $229.71. 477,412 shares of the company were exchanged, compared to its average volume of 567,963. The firm has a market cap of $17.39 billion, a PE ratio of 35.56, a P/E/G ratio of 2.41 and a beta of 0.96. 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 fifty-two week low of $189.51 and a fifty-two week high of $246.36. The stock has a fifty day simple moving average of $219.43 and a two-hundred day simple moving average of $208.51.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating 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%. IDEX's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.12 earnings per share. As a group, sell-side analysts forecast that IDEX will post 7.89 earnings per share for the current year.

IDEX Announces Dividend

The company 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 $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, January 17th. IDEX's dividend payout ratio is currently 42.72%.

Institutional Trading of IDEX

Large investors have recently made changes to their positions in the company. 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. Assetmark Inc. bought a new stake in shares of IDEX during the 3rd quarter valued at approximately $39,000. EdgeRock Capital LLC acquired a new position in IDEX during the 2nd quarter worth approximately $41,000. Whittier Trust Co. lifted its stake in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 58 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company's stock worth $43,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

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.