IDEX Co. (IEX) Given Hold Rating at Oppenheimer Holdings Inc.
IDEX Co. (NYSE:IEX)‘s stock had its “hold” rating reissued by Oppenheimer Holdings Inc. in a report released on Wednesday.
A number of other equities analysts have also commented on the stock. Zacks Investment Research upgraded shares of IDEX from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research report on Wednesday, May 10th. BMO Capital Markets reissued a “hold” rating and set a $101.00 price target on shares of IDEX in a research note on Monday, March 27th. Royal Bank of Canada reissued a “hold” rating and set a $99.00 price target on shares of IDEX in a research note on Sunday, March 12th. Robert W. Baird reissued a “buy” rating and set a $104.00 price target on shares of IDEX in a research note on Friday, April 21st. Finally, Janney Montgomery Scott downgraded shares of IDEX from a “buy” rating to a “neutral” rating and set a $96.00 price target for the company. in a research note on Thursday, March 2nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $100.71.
Shares of IDEX (NYSE:IEX) traded down 0.6180% during trading on Wednesday, hitting $107.7201. 182,962 shares of the stock traded hands. The firm has a 50 day moving average price of $101.41 and a 200-day moving average price of $94.45. IDEX has a one year low of $77.93 and a one year high of $109.87. The company has a market cap of $8.22 billion, a PE ratio of 29.6750 and a beta of 1.15.
IDEX (NYSE:IEX) last issued its earnings results on Wednesday, April 19th. The industrial products company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. IDEX had a net margin of 12.83% and a return on equity of 18.95%. The business had revenue of $553.60 million for the quarter, compared to analyst estimates of $533.14 million. During the same period in the previous year, the business earned $0.89 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. Analysts anticipate that IDEX will post $4.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Monday, May 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, May 11th. This is an increase from IDEX’s previous quarterly dividend of $0.34. IDEX’s dividend payout ratio is presently 38.42%.
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In other IDEX news, VP Michael J. Yates sold 10,533 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $104.30, for a total value of $1,098,591.90. Following the completion of the sale, the vice president now owns 34,418 shares of the company’s stock, valued at $3,589,797.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeffrey D. Bucklew sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the senior vice president now directly owns 2,726 shares of the company’s stock, valued at approximately $281,023.34. The disclosure for this sale can be found here. Insiders sold 12,613 shares of company stock valued at $1,312,276 in the last ninety days. Insiders own 1.00% of the company’s stock.
A number of large investors have recently modified their holdings of IEX. Creative Planning increased its stake in shares of IDEX by 4.3% in the first quarter. Creative Planning now owns 1,422 shares of the industrial products company’s stock valued at $133,000 after buying an additional 59 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of IDEX during the first quarter valued at approximately $207,000. Zacks Investment Management purchased a new stake in shares of IDEX during the third quarter valued at approximately $210,000. Tyers Asset Management LLC purchased a new stake in shares of IDEX during the fourth quarter valued at approximately $225,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of IDEX during the first quarter valued at approximately $234,000. 97.58% of the stock is owned by hedge funds and other institutional investors.
IDEX Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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