IDEX Corporation (NYSE:IEX) Receives “Sector Perform” Rating from Royal Bank Of Canada
Royal Bank Of Canada reiterated their sector perform rating on shares of IDEX Corporation (NYSE:IEX) in a report published on Thursday, MarketBeat reports. They currently have a $115.00 price objective on the industrial products company’s stock, up from their previous price objective of $109.00.
A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of IDEX Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of IDEX Corporation from a hold rating to a buy rating and set a $128.00 price objective on the stock in a report on Tuesday, July 11th. Cowen and Company lifted their price objective on shares of IDEX Corporation from $80.00 to $95.00 and gave the company a market perform rating in a report on Wednesday, July 5th. Seaport Global Securities reiterated a neutral rating on shares of IDEX Corporation in a report on Wednesday, June 21st. Finally, Stifel Nicolaus reiterated a hold rating and issued a $100.00 price objective on shares of IDEX Corporation in a report on Friday, May 26th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. IDEX Corporation has a consensus rating of Hold and an average target price of $103.50.
IDEX Corporation (NYSE:IEX) traded up 0.013% on Thursday, reaching $116.625. 114,520 shares of the company’s stock traded hands. The stock’s 50 day moving average is $113.30 and its 200 day moving average is $100.95. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 31.258 and a beta of 1.19. IDEX Corporation has a 52-week low of $82.05 and a 52-week high of $118.08.
IDEX Corporation (NYSE:IEX) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, beating the Zacks’ 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 firm 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. The business’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts predict that IDEX Corporation will post $4.20 EPS for the current fiscal year.
WARNING: This report was reported by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/idex-corporation-nyseiex-receives-sector-perform-rating-from-royal-bank-of-canada/1464235.html.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.48 dividend on an annualized basis and a yield of 1.27%. IDEX Corporation’s dividend payout ratio (DPR) is 39.68%.
In other news, Chairman Andrew K. Silvernail sold 50,000 shares of the business’s stock in a transaction dated 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 owns 142,114 shares of the company’s stock, valued at $16,343,110. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Texas Permanent School Fund increased its position in shares of IDEX Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 55,713 shares of the industrial products company’s stock valued at $6,296,000 after buying an additional 508 shares during the last quarter. World Asset Management Inc increased its position in shares of IDEX Corporation by 2.5% in the second quarter. World Asset Management Inc now owns 5,751 shares of the industrial products company’s stock valued at $650,000 after buying an additional 140 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of IDEX Corporation during the second quarter valued at approximately $254,000. Speece Thorson Capital Group Inc. increased its position in shares of IDEX Corporation by 1.0% in the second quarter. Speece Thorson Capital Group Inc. now owns 64,231 shares of the industrial products company’s stock valued at $7,259,000 after buying an additional 655 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of IDEX Corporation by 14.1% in the second quarter. Bessemer Group Inc. now owns 835,342 shares of the industrial products company’s stock valued at $94,403,000 after buying an additional 103,201 shares during the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.
IDEX Corporation Company Profile
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).
Receive News & Ratings for IDEX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.