IDEX Co. (NYSE:IEX) Receives $242.86 Average Price Target from Brokerages

IDEX Co. (NYSE:IEX) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $242.86.

A number of research analysts have recently issued reports on IEX shares. Stifel Nicolaus boosted their target price on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada upped their price objective on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Citigroup dropped their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Robert W. Baird dropped their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st.

Hedge Funds Weigh In On IDEX

Large investors have recently added to or reduced their stakes in the business. Studio Investment Management LLC increased its stake in IDEX by 4.9% during the third quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 45 shares during the last quarter. Albert D Mason Inc. boosted its holdings in IDEX by 1.3% in the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after purchasing an additional 56 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 57 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in IDEX by 1.0% during the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after buying an additional 59 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Price Performance

IEX stock opened at $222.13 on Friday. The business has a 50 day moving average price of $219.51 and a 200 day moving average price of $211.01. The stock has a market cap of $16.82 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.16 and a beta of 0.97. IDEX has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

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

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.24%. 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.