SunTrust Banks, Inc. reiterated their hold rating on shares of IDEX Corporation (NYSE:IEX) in a research note issued to investors on Tuesday, October 17th. They currently have a $118.00 price target on the industrial products company’s stock. SunTrust Banks also issued estimates for IDEX Corporation’s Q4 2017 earnings at $1.06 EPS, FY2017 earnings at $4.25 EPS, Q1 2018 earnings at $1.08 EPS, Q2 2018 earnings at $1.17 EPS, Q3 2018 earnings at $1.18 EPS, Q4 2018 earnings at $1.17 EPS, FY2018 earnings at $4.61 EPS, Q1 2019 earnings at $1.19 EPS, Q2 2019 earnings at $1.29 EPS, Q3 2019 earnings at $1.30 EPS and FY2019 earnings at $5.06 EPS. The analysts noted that the move was a valuation call.
A number of other research firms also recently issued reports on IEX. Zacks Investment Research raised shares of IDEX Corporation from a hold rating to a buy rating and set a $128.00 price target on the stock in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a hold rating and set a $120.00 price target on shares of IDEX Corporation in a research note on Sunday, September 3rd. Cowen and Company reaffirmed a hold rating and set a $95.00 price target on shares of IDEX Corporation in a research note on Friday, October 6th. BMO Capital Markets reaffirmed a hold rating and set a $110.00 price target on shares of IDEX Corporation in a research note on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of IDEX Corporation in a research note on Thursday, September 21st. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $113.78.
IDEX Corporation (NYSE IEX) traded up $0.06 on Tuesday, hitting $127.87. 135,100 shares of the company were exchanged, compared to its average volume of 312,218. IDEX Corporation has a 1-year low of $84.64 and a 1-year high of $129.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.04 and a current ratio of 2.84. The company has a market cap of $9,764.92, a PE ratio of 30.80, a P/E/G ratio of 2.31 and a beta of 1.22.
IDEX Corporation (NYSE:IEX) last released its quarterly earnings results on Monday, October 16th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. The company had revenue of $574.50 million for the quarter, compared to the consensus estimate of $563.23 million. IDEX Corporation had a net margin of 13.48% and a return on equity of 19.07%. IDEX Corporation’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. research analysts predict that IDEX Corporation will post 4.26 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, October 13th. IDEX Corporation’s dividend payout ratio (DPR) is 37.95%.
In other news, SVP Daniel J. Salliotte sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $115.34, for a total value of $692,040.00. Following the transaction, the senior vice president now directly owns 33,762 shares in the company, valued at $3,894,109.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $116.79, for a total transaction of $467,160.00. Following the completion of the transaction, the senior vice president now owns 6,726 shares in the company, valued at $785,529.54. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of IEX. BlackRock Inc. grew its holdings in shares of IDEX Corporation by 8.8% in the second quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock worth $790,326,000 after purchasing an additional 568,369 shares during the last quarter. Clearbridge Investments LLC grew its holdings in IDEX Corporation by 52.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,326,704 shares of the industrial products company’s stock worth $124,060,000 after acquiring an additional 458,726 shares in the last quarter. State Street Corp grew its holdings in IDEX Corporation by 20.6% during the 2nd quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock worth $270,781,000 after acquiring an additional 409,654 shares in the last quarter. Principal Financial Group Inc. grew its holdings in IDEX Corporation by 59.5% during the 2nd quarter. Principal Financial Group Inc. now owns 904,398 shares of the industrial products company’s stock worth $102,206,000 after acquiring an additional 337,382 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in IDEX Corporation by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 6,246,396 shares of the industrial products company’s stock worth $584,099,000 after acquiring an additional 327,970 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.
IDEX Corporation 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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