IDEX Co. (NYSE:IEX) declared a quarterly dividend on Tuesday, June 18th, RTT News reports. Stockholders of record on Tuesday, July 16th will be given a dividend of 0.50 per share by the industrial products company on Wednesday, July 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Monday, July 15th.

IDEX has raised its dividend payment by an average of 10.2% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. IDEX has a payout ratio of 37.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect IDEX to earn $6.15 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 32.5%.

IEX stock opened at $170.83 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.45 and a current ratio of 3.33. The firm has a market cap of $12.93 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 2.94 and a beta of 1.24. IDEX has a 12-month low of $117.72 and a 12-month high of $173.84. The firm’s 50 day moving average price is $163.07.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.07. The business had revenue of $622.20 million for the quarter, compared to analyst estimates of $634.38 million. IDEX had a return on equity of 21.22% and a net margin of 16.92%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.27 EPS. On average, equities research analysts forecast that IDEX will post 5.81 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on IEX shares. Stifel Nicolaus raised QUALCOMM from a “hold” rating to a “buy” rating and upped their price target for the company from $57.00 to $100.00 in a research report on Tuesday, April 16th. Berenberg Bank reissued a “buy” rating and set a GBX 150 ($1.96) price target on shares of Tharisa in a research report on Wednesday, May 15th. Janney Montgomery Scott lowered Xylem from a “buy” rating to a “neutral” rating in a research report on Friday, March 29th. DA Davidson reissued a “neutral” rating on shares of IDEX in a research report on Friday, April 26th. Finally, Oppenheimer dropped their price target on 2U from $83.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. IDEX currently has a consensus rating of “Hold” and a consensus price target of $154.00.

In other IDEX news, Chairman Andrew K. Silvernail sold 81,120 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $155.11, for a total value of $12,582,523.20. Following the sale, the chairman now directly owns 173,947 shares of the company’s stock, valued at $26,980,919.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael J. Yates sold 15,178 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $156.97, for a total value of $2,382,490.66. Following the completion of the sale, the vice president now directly owns 38,590 shares in the company, valued at $6,057,472.30. The disclosure for this sale can be found here. Insiders sold 103,423 shares of company stock worth $16,055,566 over the last ninety days. 1.20% of the stock is owned by corporate insiders.

IDEX Company Profile

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers 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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