IDEX (NYSE:IEX – Free Report) had its target price lowered by Citigroup from $269.00 to $267.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.
Several other research firms have also weighed in on IEX. Stifel Nicolaus lifted their target price on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird cut their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada increased their target price on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.86.
Check Out Our Latest Analysis on IDEX
IDEX Price Performance
IDEX (NYSE:IEX – Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 earnings per share. Research analysts expect that IDEX will post 7.89 EPS for the current year.
IDEX Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.31%. IDEX’s dividend payout ratio (DPR) is 42.72%.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Catalyst Capital Advisors LLC boosted its holdings in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of IDEX in the third quarter worth approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of IDEX by 19.9% during the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 57 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in IDEX in the 3rd quarter valued at $86,000. 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.
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