IDEX Corporation (NYSE:IEX) – SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for IDEX Corporation in a research report issued on Tuesday. SunTrust Banks analyst C. Brady now expects that the industrial products company will post earnings per share of $4.25 for the year, up from their prior forecast of $4.23. SunTrust Banks currently has a “Hold” rating and a $118.00 target price on the stock. SunTrust Banks also issued estimates for IDEX Corporation’s Q4 2017 earnings at $1.06 EPS, Q3 2018 earnings at $1.18 EPS, Q4 2018 earnings at $1.17 EPS, FY2018 earnings at $4.61 EPS, Q1 2019 earnings at $1.19 EPS and FY2019 earnings at $5.06 EPS.
A number of other research analysts have also recently issued reports on IEX. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of IDEX Corporation in a report on Wednesday. Royal Bank Of Canada raised their price target on shares of IDEX Corporation from $124.00 to $126.00 and gave the stock a “sector perform” rating in a report on Wednesday. Jefferies Group LLC reiterated a “hold” rating and issued a $91.00 price objective on shares of IDEX Corporation in a research note on Friday, August 4th. Robert W. Baird reiterated a “buy” rating and issued a $129.00 price objective on shares of IDEX Corporation in a research note on Wednesday, October 4th. Finally, BidaskClub lowered shares of IDEX Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $113.78.
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Shares of IDEX Corporation (NYSE IEX) opened at 124.53 on Thursday. The company has a market cap of $9.52 billion, a P/E ratio of 33.38 and a beta of 1.19. The firm has a 50-day moving average of $121.98 and a 200-day moving average of $112.15. IDEX Corporation has a 52-week low of $82.05 and a 52-week high of $125.59.
IDEX Corporation (NYSE:IEX) last posted its earnings results on Monday, October 16th. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. IDEX Corporation had a net margin of 13.48% and a return on equity of 19.07%. The business had revenue of $574.50 million during the quarter, compared to the consensus estimate of $563.23 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s revenue was up 8.3% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of IEX. IHT Wealth Management LLC lifted its stake in shares of IDEX Corporation by 258.5% in the second quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock worth $165,000 after buying an additional 380 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of IDEX Corporation in the second quarter worth about $106,000. Strs Ohio purchased a new position in shares of IDEX Corporation in the second quarter worth about $112,000. Acrospire Investment Management LLC lifted its stake in shares of IDEX Corporation by 1,000.0% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the industrial products company’s stock worth $124,000 after buying an additional 1,000 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of IDEX Corporation in the second quarter worth about $134,000. 98.49% of the stock is currently owned by institutional investors and hedge funds.
In other IDEX Corporation news, SVP Jeffrey D. Bucklew sold 4,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $116.79, for a total transaction of $467,160.00. Following the transaction, the senior vice president now directly owns 6,726 shares of the company’s stock, valued at $785,529.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Andrew K. Silvernail sold 50,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the transaction, the chairman now directly owns 142,114 shares in the company, valued at $16,343,110. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,000 shares of company stock worth $6,909,200. Insiders own 1.00% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, October 13th. IDEX Corporation’s payout ratio is 37.95%.
IDEX Corporation Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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