IDEX Co. (IEX) to Issue Quarterly Dividend of $0.69 on July 26th

IDEX Co. (NYSE:IEX) declared a quarterly dividend on Thursday, June 20th, RTT News reports. Stockholders of record on Friday, July 12th will be paid a dividend of 0.69 per share by the industrial products company on Friday, July 26th. This represents a $2.76 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, July 12th.

IDEX has increased its dividend payment by an average of 8.0% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. IDEX has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect IDEX to earn $9.17 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 30.1%.

IDEX Stock Performance

Shares of IDEX stock opened at $202.72 on Friday. The firm has a market capitalization of $15.34 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.04 and a beta of 0.99. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. The company’s 50 day moving average price is $215.87 and its two-hundred day moving average price is $221.26.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 EPS. On average, equities analysts forecast that IDEX will post 8.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Robert W. Baird lowered their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Citigroup upped their price target on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Oppenheimer raised their price objective on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Finally, StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $250.71.

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.