IDEX Co. (NYSE:IEX) Receives $243.14 Consensus PT from Analysts

IDEX Co. (NYSE:IEX) has received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $243.14.

A number of analysts recently commented on the stock. Citigroup boosted their target price on shares of IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada upped their price target on IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Stifel Nicolaus raised their price objective on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird cut their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st.

Hedge Funds Weigh In On IDEX

Large investors have recently made changes to their positions in the business. Raymond James Trust N.A. lifted its position in IDEX by 5.2% in the 2nd quarter. Raymond James Trust N.A. now owns 1,594 shares of the industrial products company’s stock worth $321,000 after buying an additional 79 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of IDEX by 0.5% during the second quarter. State of Michigan Retirement System now owns 20,780 shares of the industrial products company’s stock worth $4,181,000 after acquiring an additional 100 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in IDEX by 5.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,385 shares of the industrial products company’s stock valued at $279,000 after purchasing an additional 67 shares during the last quarter. Whittier Trust Co. grew its stake in IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in IDEX by 4.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 18,760 shares of the industrial products company’s stock worth $3,775,000 after purchasing an additional 868 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of NYSE IEX opened at $209.29 on Wednesday. IDEX has a 1 year low of $189.51 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The stock has a fifty day moving average price of $221.67 and a two-hundred day moving average price of $209.53. The firm has a market cap of $15.85 billion, a P/E ratio of 32.40, a PEG ratio of 2.36 and a beta of 0.96.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same period in the previous year, the company earned $2.12 earnings per share. IDEX’s revenue was up .6% compared to the same quarter last year. Research analysts forecast that IDEX will post 7.89 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.