IDEX (NYSE:IEX) Price Target Raised to $256.00

IDEX (NYSE:IEX) had its price target boosted by Stifel Nicolaus from $244.00 to $256.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other research analysts also recently commented on IEX. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Royal Bank of Canada boosted their price objective 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. Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Citigroup boosted their price target on IDEX from $251.00 to $269.00 and gave the stock 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.14.

IDEX Stock Performance

IDEX stock opened at $223.00 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The company has a market capitalization of $16.89 billion, a PE ratio of 34.52, a P/E/G ratio of 2.41 and a beta of 0.96. The company has a 50 day moving average price of $220.89 and a 200-day moving average price of $208.87. IDEX has a fifty-two week low of $189.51 and a fifty-two week high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. IDEX’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 EPS. As a group, equities analysts forecast that IDEX will post 7.89 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Institutional Investors Weigh In On IDEX

Several institutional investors have recently added to or reduced their stakes in IEX. Oddo BHF Asset Management Sas purchased a new position in shares of IDEX in the 3rd quarter valued at approximately $1,514,000. Franklin Resources Inc. raised its holdings in shares of IDEX by 1.0% in the third quarter. Franklin Resources Inc. now owns 203,412 shares of the industrial products company’s stock worth $43,390,000 after buying an additional 1,930 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of IDEX by 9.3% during the third quarter. Tidal Investments LLC now owns 5,428 shares of the industrial products company’s stock worth $1,164,000 after buying an additional 460 shares during the period. Toronto Dominion Bank grew its holdings in shares of IDEX by 1.3% during the third quarter. Toronto Dominion Bank now owns 38,884 shares of the industrial products company’s stock valued at $8,341,000 after buying an additional 512 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of IDEX by 5.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 12,108 shares of the industrial products company’s stock valued at $2,598,000 after acquiring an additional 596 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

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.