IDEX Corporation (NYSE:IEX) Downgraded by BidaskClub
BidaskClub lowered shares of IDEX Corporation (NYSE:IEX) from a strong-buy rating to a buy rating in a report published on Tuesday.
IEX has been the topic of several other research reports. Zacks Investment Research raised shares of IDEX Corporation from a sell rating to a hold rating in a research note on Thursday, April 20th. Stifel Nicolaus reiterated a hold rating and issued a $100.00 target price on shares of IDEX Corporation in a research note on Friday, May 26th. Robert W. Baird reiterated a buy rating and issued a $104.00 target price on shares of IDEX Corporation in a research note on Friday, April 21st. BMO Capital Markets reiterated a hold rating and issued a $104.00 target price on shares of IDEX Corporation in a research note on Friday, April 21st. Finally, Jefferies Group LLC reiterated a hold rating and issued a $79.00 target price on shares of IDEX Corporation in a research note on Wednesday, April 12th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $103.50.
Shares of IDEX Corporation (IEX) traded up 0.93% during trading on Tuesday, reaching $116.61. 326,885 shares of the company traded hands. IDEX Corporation has a 12-month low of $82.05 and a 12-month high of $118.08. The stock has a market capitalization of $8.91 billion, a P/E ratio of 31.25 and a beta of 1.19. The firm’s 50 day moving average is $113.30 and its 200-day moving average is $100.95.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The business had revenue of $573.40 million for the quarter, compared to analyst estimates of $568.43 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. IDEX Corporation’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that IDEX Corporation will post $4.20 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be paid a $0.37 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.27%. IDEX Corporation’s dividend payout ratio (DPR) is presently 39.68%.
In other news, Chairman Andrew K. Silvernail sold 50,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $5,750,000.00. Following the completion of the sale, the chairman now directly owns 142,114 shares of the company’s stock, valued at $16,343,110. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Several institutional investors have recently modified their holdings of IEX. Strs Ohio bought a new position in shares of IDEX Corporation during the second quarter worth $112,000. Creative Planning raised its position in shares of IDEX Corporation by 4.3% in the first quarter. Creative Planning now owns 1,422 shares of the industrial products company’s stock worth $133,000 after buying an additional 59 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of IDEX Corporation during the second quarter worth $181,000. Wallington Asset Management LLC bought a new position in shares of IDEX Corporation during the second quarter worth $203,000. Finally, Diversified Trust Co bought a new position in shares of IDEX Corporation during the first quarter worth $207,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.
About IDEX Corporation
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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