Insider Selling: Michael J. Yates Sells 29,782 Shares of IDEX Stock (IEX)
IDEX (NYSE:IEX) CAO Michael J. Yates sold 29,782 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $77.05, for a total transaction of $2,294,703.10. Following the transaction, the chief accounting officer now directly owns 16,008 shares of the company’s stock, valued at approximately $1,233,416. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of IDEX (NYSE:IEX) traded up 0.86% during mid-day trading on Tuesday, hitting $77.60. 386,304 shares of the company’s stock traded hands. IDEX has a 52-week low of $58.63 and a 52-week high of $81.82. The stock’s 50-day moving average is $77.42 and its 200-day moving average is $75.81. The company has a market cap of $6.214 billion and a P/E ratio of 22.70.
IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.86 by $0.02. The company had revenue of $546.69 million for the quarter, compared to the consensus estimate of $543.79 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect that IDEX will post $3.54 EPS for the current fiscal year.
IEX has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of IDEX in a research note on Friday, August 1st. They now have a $80.00 price target on the stock. Separately, analysts at Janney Montgomery Scott downgraded shares of IDEX from a “buy” rating to a “neutral” rating in a research note on Thursday, July 24th. They now have a $85.00 price target on the stock, up previously from $75.00. Finally, analysts at Brean Capital raised their price target on shares of IDEX from $79.00 to $86.00 in a research note on Wednesday, July 23rd. They now have a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. IDEX currently has a consensus rating of “Hold” and a consensus price target of $76.63.
IDEX Corporation (NYSE:IEX), is an applied solutions business that sells an array of pumps, flow meters and other fluidics systems and components and engineered products to customers in a variety of markets worldwide.
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