Brokerages Set IDEX Corporation (NYSE:IEX) PT at $212.50

IDEX Corporation (NYSE:IEX) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $214.38.

IEX has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank Of Canada upped their target price on shares of IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Mizuho set a $185.00 target price on shares of IDEX in a report on Friday, May 16th. Robert W. Baird set a $215.00 price objective on shares of IDEX in a report on Friday, May 2nd. Finally, Stifel Nicolaus upped their price objective on shares of IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a report on Friday, May 2nd.

Insider Transactions at IDEX

In related news, CFO Akhil Mahendra sold 250 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the sale, the chief financial officer directly owned 5,035 shares in the company, valued at $910,781.15. The trade was a 4.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On IDEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of IDEX by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company’s stock valued at $1,947,654,000 after purchasing an additional 63,432 shares during the period. Wellington Management Group LLP increased its holdings in IDEX by 19.7% during the 1st quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company’s stock worth $914,007,000 after purchasing an additional 831,005 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company’s stock valued at $767,421,000 after acquiring an additional 277,964 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of IDEX by 11.5% in the 1st quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company’s stock valued at $363,157,000 after acquiring an additional 207,172 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in IDEX by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company’s stock valued at $399,350,000 after purchasing an additional 21,758 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Down 0.7%

Shares of IDEX stock opened at $179.58 on Friday. The firm’s 50 day moving average price is $181.39 and its 200-day moving average price is $187.76. The company has a quick ratio of 1.99, a current ratio of 2.79 and a debt-to-equity ratio of 0.47. IDEX has a 52-week low of $153.36 and a 52-week high of $238.22. The company has a market cap of $13.57 billion, a P/E ratio of 28.46, a PEG ratio of 1.84 and a beta of 1.04.

IDEX (NYSE:IEX) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. The company 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%. IDEX’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 EPS. On average, sell-side analysts predict that IDEX will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, July 11th. IDEX’s dividend payout ratio is presently 45.01%.

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.