IDEX (NYSE:IEX) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

IDEX Co. (NYSE:IEX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $209.58 and traded as high as $211.40. IDEX shares last traded at $206.06, with a volume of 379,791 shares traded.

Wall Street Analysts Forecast Growth

IEX has been the topic of several research analyst reports. Robert W. Baird reduced their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Stifel Nicolaus upped their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup raised their target price on shares of IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

IDEX Trading Down 1.5 %

The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average is $221.83 and its 200 day moving average is $209.58. The firm has a market capitalization of $15.60 billion, a price-to-earnings ratio of 31.90, a P/E/G ratio of 2.36 and a beta of 0.96.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.01. The company had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. IDEX’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. On average, equities analysts predict that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Institutional Trading of IDEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC boosted its stake in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. bought a new stake in IDEX during the third quarter valued at $39,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the period. Mascoma Wealth Management LLC bought a new position in shares of IDEX in the 2nd quarter worth about $51,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of IDEX by 19.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Company Profile

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.