IDEX (NYSE:IEX) PT Lowered to $230.00

IDEX (NYSE:IEX) had its target price lowered by TD Cowen from $240.00 to $230.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

IEX has been the subject of several other research reports. Royal Bank of Canada lowered their price target on shares of IDEX from $250.00 to $236.00 and set an outperform rating for the company in a report on Friday, August 2nd. Stifel Nicolaus reduced their price objective on shares of IDEX from $265.00 to $236.00 and set a buy rating for the company in a research report on Thursday, July 18th. DA Davidson reduced their price objective on shares of IDEX from $220.00 to $210.00 and set a neutral rating for the company in a research report on Monday, August 5th. Robert W. Baird reduced their price objective on shares of IDEX from $256.00 to $241.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Finally, Oppenheimer reduced their price objective on shares of IDEX from $245.00 to $238.00 and set an outperform rating for the company in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $235.33.

IDEX Price Performance

Shares of IEX stock traded down $0.52 on Wednesday, reaching $194.34. The company had a trading volume of 338,170 shares, compared to its average volume of 438,506. The stock has a market capitalization of $14.71 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The company has a quick ratio of 2.45, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX has a one year low of $183.76 and a one year high of $246.36. The business’s 50-day moving average is $201.21 and its 200 day moving average is $218.88.

IDEX (NYSE:IEX) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The firm had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.18 earnings per share. Equities research analysts forecast that IDEX will post 7.85 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, July 12th. IDEX’s dividend payout ratio is currently 36.32%.

Institutional Trading of IDEX

Several hedge funds and other institutional investors have recently bought and sold shares of IEX. Riverview Trust Co bought a new stake in IDEX in the first quarter valued at approximately $35,000. Quarry LP bought a new position in shares of IDEX during the fourth quarter valued at approximately $36,000. EdgeRock Capital LLC bought a new position in shares of IDEX during the second quarter valued at approximately $41,000. Whittier Trust Co. raised its holdings in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

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.