Analysts Set IDEX Corporation (NYSE:IEX) Target Price at $212.50

Shares of IDEX Corporation (NYSE:IEX) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat 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 twelve-month price objective among brokers that have issued a report on the stock in the last year is $212.50.

IEX has been the topic of a number of research reports. Mizuho set a $185.00 price objective on shares of IDEX in a report on Friday, May 16th. Stifel Nicolaus raised their price objective on shares of IDEX from $192.00 to $208.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Robert W. Baird set a $215.00 price objective on shares of IDEX in a report on Friday, May 2nd. Citigroup dropped their price objective on shares of IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Royal Bank Of Canada lifted their price target on shares of IDEX from $206.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, May 2nd.

Insider Activity

In other news, CFO Akhil Mahendra sold 250 shares of IDEX stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the sale, the chief financial officer now owns 5,035 shares in the company, valued at $910,781.15. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On IDEX

Several large investors have recently bought and sold shares of IEX. Empowered Funds LLC increased its position in IDEX by 22.9% in the fourth quarter. Empowered Funds LLC now owns 1,592 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 297 shares during the last quarter. Asset Management One Co. Ltd. increased its position in IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock worth $6,386,000 after purchasing an additional 1,209 shares during the last quarter. Handelsbanken Fonder AB increased its position in IDEX by 6.1% in the fourth quarter. Handelsbanken Fonder AB now owns 20,800 shares of the industrial products company’s stock worth $4,353,000 after purchasing an additional 1,200 shares during the last quarter. Boston Financial Mangement LLC bought a new stake in IDEX in the fourth quarter worth $226,000. Finally, Allianz Asset Management GmbH increased its position in IDEX by 133.2% in the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock worth $85,105,000 after purchasing an additional 232,255 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IDEX stock opened at $173.28 on Wednesday. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 1.78 and a beta of 1.06. The firm’s 50-day moving average is $178.57 and its 200 day moving average is $192.73. IDEX has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.79 and a quick ratio of 1.99.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $807.25 million. IDEX had a net margin of 14.60% and a return on equity of 15.51%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 EPS. Sell-side analysts anticipate that IDEX will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, July 11th. IDEX’s payout ratio is currently 45.01%.

IDEX Company Profile

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.