IDEX Corporation’s (NYSE:IEX) “Hold” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets restated their hold rating on shares of IDEX Corporation (NYSE:IEX) in a report published on Friday. BMO Capital Markets currently has a $110.00 price target on the industrial products company’s stock.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of IDEX Corporation from a hold rating to a buy rating and set a $117.00 price objective on the stock in a research report on Wednesday, May 10th. Robert W. Baird restated a buy rating and set a $104.00 price objective on shares of IDEX Corporation in a research report on Friday, April 21st. BidaskClub downgraded shares of IDEX Corporation from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Stifel Nicolaus restated a hold rating and set a $100.00 price objective on shares of IDEX Corporation in a research report on Friday, May 26th. Finally, Oppenheimer Holdings, Inc. restated a hold rating on shares of IDEX Corporation in a research report on Wednesday, May 24th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $103.50.
Shares of IDEX Corporation (NYSE:IEX) opened at 116.54 on Friday. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 31.24 and a beta of 1.19. IDEX Corporation has a 52 week low of $82.05 and a 52 week high of $118.08. The stock’s 50 day moving average is $113.46 and its 200 day moving average is $101.28.
IDEX Corporation (NYSE:IEX) last issued its quarterly earnings data 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. The company had revenue of $573.40 million for the quarter, compared to the consensus estimate of $568.43 million. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, equities analysts forecast that IDEX Corporation will post $4.20 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was 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 is currently 39.68%.
In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction 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 can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in shares of IDEX Corporation during the second quarter worth about $112,000. Creative Planning boosted its stake 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 during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of IDEX Corporation during the second quarter worth about $181,000. Wallington Asset Management LLC purchased a new stake in shares of IDEX Corporation during the second quarter worth about $203,000. Finally, Diversified Trust Co purchased a new stake in shares of IDEX Corporation during the first quarter worth about $207,000. 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).
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