IDEX Corporation (NYSE:IEX) – Analysts at Oppenheimer Holdings raised their FY2017 earnings per share estimates for shares of IDEX Corporation in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst J. Giannakouros now expects that the industrial products company will post earnings per share of $4.27 for the year, up from their prior forecast of $4.23. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for IDEX Corporation’s Q4 2017 earnings at $1.08 EPS, FY2018 earnings at $4.65 EPS and FY2019 earnings at $5.00 EPS.
IDEX Corporation (NYSE:IEX) last released its quarterly earnings data on Monday, October 16th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. The company had revenue of $574.50 million during the quarter, compared to analysts’ expectations of $563.23 million. IDEX Corporation had a net margin of 13.48% and a return on equity of 19.07%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. TRADEMARK VIOLATION NOTICE: This article was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.dispatchtribunal.com/2017/10/28/oppenheimer-holdings-analysts-boost-earnings-estimates-for-idex-corporation-iex.html.
IEX has been the subject of several other research reports. Robert W. Baird reaffirmed a “buy” rating and set a $129.00 target price on shares of IDEX Corporation in a research note on Wednesday, October 4th. Royal Bank Of Canada increased their target price on shares of IDEX Corporation from $124.00 to $126.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Zacks Investment Research raised shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research note on Monday, August 21st. BidaskClub lowered shares of IDEX Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $110.00 target price on shares of IDEX Corporation in a research note on Wednesday, September 6th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $113.78.
Shares of IDEX Corporation (NYSE:IEX) opened at 124.53 on Thursday. IDEX Corporation has a 52-week low of $82.05 and a 52-week high of $125.59. The stock has a market capitalization of $9.52 billion, a PE 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.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new position in shares of IDEX Corporation in the second quarter valued at approximately $106,000. Strs Ohio purchased a new position in shares of IDEX Corporation in the second quarter valued at approximately $112,000. Acrospire Investment Management LLC boosted 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 valued at $124,000 after purchasing an additional 1,000 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of IDEX Corporation in the second quarter valued at approximately $134,000. Finally, IHT Wealth Management LLC raised its holdings in IDEX Corporation by 258.5% in the second quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 380 shares in the last quarter. 98.49% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Jeffrey D. Bucklew sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $116.79, for a total value of $467,160.00. Following the completion of the transaction, the senior vice president now 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 available at the SEC website. Also, Chairman Andrew K. Silvernail sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 142,114 shares of the company’s stock, valued at approximately $16,343,110. The disclosure for this sale can be found here. In the last three months, insiders sold 60,000 shares of company stock valued at $6,909,200. Insiders own 1.00% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend 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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