IDEX Co. (NYSE:IEX – Get Free Report) 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.
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.
Get Our Latest Stock Analysis on IDEX
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.
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