IDEX Co. (NYSE:IEX) Plans $0.69 Quarterly Dividend

IDEX Co. (NYSE:IEXGet Free Report) declared a quarterly dividend on Thursday, June 20th, RTT News reports. Investors of record on Friday, July 12th will be paid a dividend of 0.69 per share by the industrial products company on Friday, July 26th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, July 12th.

IDEX has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect IDEX to earn $9.18 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 30.1%.

IDEX Stock Down 0.2 %

Shares of IEX opened at $195.24 on Wednesday. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. The stock has a 50 day simple moving average of $209.04 and a two-hundred day simple moving average of $220.43. The firm has a market cap of $14.78 billion, a P/E ratio of 25.69, a P/E/G ratio of 1.96 and a beta of 0.95.

IDEX (NYSE:IEXGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. During the same quarter in the prior year, the company earned $2.09 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. On average, analysts forecast that IDEX will post 8.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IEX shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Oppenheimer lifted their price target on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Citigroup increased their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Finally, Robert W. Baird lowered their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.71.

View Our Latest Analysis on IEX

About IDEX

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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.

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Dividend History for IDEX (NYSE:IEX)

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