IDEX (NYSE:IEX) Price Target Raised to $225.00

IDEX (NYSE:IEXGet Rating) had its price target increased by Mizuho from $208.00 to $225.00 in a research report report published on Friday, The Fly reports. Mizuho currently has a neutral rating on the industrial products company’s stock.

IEX has been the subject of a number of other research reports. Morgan Stanley lifted their price target on IDEX from $225.00 to $235.00 and gave the company an overweight rating in a research note on Thursday, October 27th. StockNews.com started coverage on IDEX in a research note on Wednesday, October 12th. They set a buy rating for the company. Citigroup lifted their price target on IDEX from $228.00 to $273.00 and gave the company a buy rating in a research note on Friday, December 9th. DA Davidson lifted their price target on IDEX from $220.00 to $225.00 in a research note on Tuesday, November 22nd. Finally, Cowen lifted their price target on IDEX to $240.00 in a research note on Tuesday, November 1st. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $230.17.

IDEX Stock Performance

Shares of IEX opened at $238.90 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.23 and a quick ratio of 2.33. The stock has a 50-day moving average of $232.39 and a 200-day moving average of $213.88. The company has a market cap of $18.02 billion, a PE ratio of 31.64, a P/E/G ratio of 2.32 and a beta of 1.00. IDEX has a one year low of $172.18 and a one year high of $246.23.

IDEX (NYSE:IEXGet Rating) last issued its earnings results on Tuesday, October 25th. The industrial products company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.01 by $0.13. The company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $779.81 million. IDEX had a return on equity of 20.68% and a net margin of 18.66%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the business posted $1.63 EPS. On average, equities research analysts predict that IDEX will post 8.09 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 13th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.00%. IDEX’s dividend payout ratio (DPR) is presently 31.79%.

Insider Buying and Selling

In related news, CFO William K. Grogan sold 843 shares of IDEX stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $50.45, for a total value of $42,529.35. Following the sale, the chief financial officer now owns 127,689 shares of the company’s stock, valued at approximately $6,441,910.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other IDEX news, Director Livingston Satterthwaite sold 3,075 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $222.69, for a total transaction of $684,771.75. Following the sale, the director now owns 13,232 shares of the company’s stock, valued at approximately $2,946,634.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William K. Grogan sold 843 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $50.45, for a total transaction of $42,529.35. Following the sale, the chief financial officer now directly owns 127,689 shares in the company, valued at approximately $6,441,910.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,766 shares of company stock valued at $2,097,044. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On IDEX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust raised its holdings in IDEX by 120.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 77 shares during the period. Clear Street Markets LLC raised its holdings in IDEX by 416.1% during the 2nd quarter. Clear Street Markets LLC now owns 160 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 129 shares during the period. Allworth Financial LP raised its holdings in IDEX by 491.2% during the 3rd quarter. Allworth Financial LP now owns 201 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 167 shares during the period. General Partner Inc. bought a new stake in IDEX during the 4th quarter valued at $46,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of IDEX in the second quarter worth $49,000. Institutional investors own 96.58% of the company’s stock.

About IDEX

(Get Rating)

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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Analyst Recommendations for IDEX (NYSE:IEX)

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