IDEX Corporation (NYSE:IEX) declared a quarterly dividend on Thursday, September 14th, RTT News reports. Stockholders of record on Monday, October 16th will be paid a dividend of 0.37 per share by the industrial products company on Tuesday, October 31st. This represents a $1.48 annualized dividend and a dividend yield of 1.23%.

IDEX Corporation has increased its dividend by an average of 14.6% annually over the last three years and has increased its dividend every year for the last 7 years. IDEX Corporation has a payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Analysts expect IDEX Corporation to earn $4.60 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 32.2%.

Shares of IDEX Corporation (IEX) traded up 0.45% during trading on Thursday, hitting $120.75. The stock had a trading volume of 169,180 shares. IDEX Corporation has a 12-month low of $82.05 and a 12-month high of $122.22. The stock has a 50-day moving average of $115.93 and a 200 day moving average of $106.55. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 32.36 and a beta of 1.19.

IDEX Corporation (NYSE:IEX) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.02. The company had revenue of $573.40 million during the quarter, compared to analyst estimates of $568.43 million. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, analysts predict that IDEX Corporation will post $4.23 earnings per share for the current fiscal year.

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Several equities research analysts have commented on IEX shares. Zacks Investment Research lowered IDEX Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub upgraded IDEX Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Cowen and Company upped their price target on IDEX Corporation from $80.00 to $95.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 5th. Finally, Stifel Nicolaus restated a “hold” rating and set a $100.00 price target on shares of IDEX Corporation in a research note on Friday, May 26th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $107.25.

In related news, Chairman Andrew K. Silvernail sold 50,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $5,750,000.00. Following the completion of the transaction, the chairman now owns 142,114 shares of the company’s stock, valued at $16,343,110. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $116.79, for a total value of $467,160.00. Following the completion of the transaction, the senior vice president now directly owns 6,726 shares of the company’s stock, valued at approximately $785,529.54. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock valued at $6,909,200 in the last ninety days. Company insiders own 1.00% of the company’s stock.

About IDEX Corporation

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).

Dividend History for IDEX Corporation (NYSE:IEX)

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