IDEX Corporation (NYSE:IEX) – Stock analysts at SunTrust Banks upped their Q3 2017 EPS estimates for IDEX Corporation in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will earn $1.06 per share for the quarter, up from their previous forecast of $1.02. SunTrust Banks also issued estimates for IDEX Corporation’s Q4 2017 earnings at $1.05 EPS, FY2017 earnings at $4.23 EPS, Q1 2018 earnings at $1.09 EPS, Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.17 EPS, Q4 2018 earnings at $1.15 EPS and FY2018 earnings at $4.60 EPS.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.02. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. The firm had revenue of $573.40 million during the quarter, compared to analysts’ expectations of $568.43 million. During the same quarter in the previous year, the business earned $0.99 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis.
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A number of other analysts have also recently weighed in on the company. BMO Capital Markets reissued a “hold” rating and issued a $110.00 price objective on shares of IDEX Corporation in a research report on Friday. Zacks Investment Research raised IDEX Corporation from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research report on Friday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $115.00 price objective (up previously from $109.00) on shares of IDEX Corporation in a research report on Thursday. BidaskClub cut IDEX Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Cowen and Company raised their price objective on IDEX Corporation from $80.00 to $95.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 5th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $103.50.
IDEX Corporation (NYSE IEX) opened at 116.61 on Friday. The stock has a 50 day moving average price of $113.30 and a 200 day moving average price of $100.95. The stock has a market cap of $8.90 billion, a PE ratio of 32.12 and a beta of 1.19. IDEX Corporation has a 1-year low of $82.05 and a 1-year high of $118.08.
Hedge funds have recently modified their holdings of the company. Texas Permanent School Fund boosted its stake in shares of IDEX Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 55,713 shares of the industrial products company’s stock worth $6,296,000 after buying an additional 508 shares in the last quarter. World Asset Management Inc boosted its stake in shares of IDEX Corporation by 2.5% in the second quarter. World Asset Management Inc now owns 5,751 shares of the industrial products company’s stock worth $650,000 after buying an additional 140 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of IDEX Corporation during the second quarter worth approximately $254,000. Speece Thorson Capital Group Inc. boosted its stake in shares of IDEX Corporation by 1.0% in the second quarter. Speece Thorson Capital Group Inc. now owns 64,231 shares of the industrial products company’s stock worth $7,259,000 after buying an additional 655 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of IDEX Corporation by 14.1% in the second quarter. Bessemer Group Inc. now owns 835,342 shares of the industrial products company’s stock worth $94,403,000 after buying an additional 103,201 shares in the last quarter. 98.70% of the stock is owned by institutional investors.
In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of IDEX Corporation stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the completion of the sale, the chairman now owns 142,114 shares of the company’s stock, valued at approximately $16,343,110. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.48 dividend on an annualized basis and a yield of 1.27%. IDEX Corporation’s dividend payout ratio is currently 39.68%.
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).
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