IDEX Corporation (NYSE:IEX) Stock Has Consensus Target Price of $263.64

IDEX Corporation (NYSE:IEX) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $263.64.

Several analysts recently issued reports on IEX shares. DA Davidson set a $245.00 price objective on IDEX in a report on Thursday, October 29th. Oppenheimer lifted their price objective on shares of IDEX from $275.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Vertical Research assumed coverage on IDEX in a research note on Tuesday, September 8th. They issued a “buy” rating and a $250.00 price target on the stock. Robert W. Baird set a $268.00 price objective on shares of IDEX in a research note on Thursday, October 29th. Finally, Citigroup lifted their price target on shares of IDEX from $269.00 to $272.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th.

Insider Buying and Selling

In other news, CAO Lisa Anderson sold 385 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $238.59, for a total value of $91,857.15. Following the completion of the transaction, the chief accounting officer directly owned 4,327 shares in the company, valued at $1,032,378.93. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in IDEX in the 2nd quarter worth approximately $1,301,393,000. Primecap Management Co. CA acquired a new position in shares of IDEX during the 2nd quarter worth $748,951,000. Amundi boosted its position in IDEX by 19.6% in the 2nd quarter. Amundi now owns 1,458,979 shares of the industrial products company’s stock valued at $331,017,000 after buying an additional 239,579 shares during the last quarter. Bank of America Corp DE raised its position in shares of IDEX by 215.0% during the first quarter. Bank of America Corp DE now owns 1,094,101 shares of the industrial products company’s stock worth $207,387,000 after purchasing an additional 746,732 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of IDEX by 101.4% during the second quarter. Alyeska Investment Group L.P. now owns 1,042,703 shares of the industrial products company’s stock worth $236,641,000 after buying an additional 525,048 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Performance

Shares of IEX stock opened at $227.06 on Friday. The stock has a fifty day moving average of $229.90 and a 200 day moving average of $216.92. IDEX has a 52 week low of $160.60 and a 52 week high of $243.80. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 2.64 and a beta of 0.95. The company has a quick ratio of 1.95, a current ratio of 2.78 and a debt-to-equity ratio of 0.44.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.09. The firm had revenue of $951.70 million during the quarter, compared to analysts’ expectations of $934.36 million. IDEX had a net margin of 14.65% and a return on equity of 16.18%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.03 EPS. As a group, research analysts expect that IDEX will post 8.95 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were given a dividend of $0.73 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.3%. IDEX’s dividend payout ratio (DPR) is 40.56%.

IDEX Company Profile

IDEX Corporation is an industrial manufacturing company headquartered in Lake Forest, Illinois. The company designs and produces engineered products and technologies used to move, control, measure and apply fluids, as well as equipment used in fire and safety applications.

IDEX operates through businesses serving fluid and metering technologies, health and science technologies, and fire and safety markets. Its products include pumps, valves, flow meters, compressors, dispensing equipment, precision fluidics components and systems, fire pumps, rescue tools and other specialized equipment.

The company serves a broad range of industries, including healthcare, life sciences, water and wastewater, chemical processing, energy, food and beverage, agriculture, industrial manufacturing and municipal fire protection.