IDEX Corporation (NYSE:IEX)‘s stock had its “buy” rating reiterated by Robert W. Baird in a research note issued to investors on Friday, October 20th.
A number of other equities research analysts have also recently commented on IEX. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of IDEX Corporation in a report on Wednesday, October 18th. Jefferies Group LLC restated a “hold” rating and set a $91.00 price objective on shares of IDEX Corporation in a report on Friday, August 4th. Royal Bank Of Canada raised their price objective on IDEX Corporation from $124.00 to $126.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 18th. BidaskClub cut IDEX Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $118.00 target price on shares of IDEX Corporation in a report on Tuesday, October 17th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. IDEX Corporation currently has a consensus rating of “Hold” and a consensus target price of $113.78.
Shares of IDEX Corporation (NYSE IEX) opened at 128.41 on Friday. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 32.92 and a beta of 1.19. The company’s 50-day moving average price is $123.67 and its 200 day moving average price is $113.69. IDEX Corporation has a 12-month low of $84.62 and a 12-month high of $129.36.
IDEX Corporation (NYSE:IEX) last released its quarterly earnings data on Monday, October 16th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. The firm had revenue of $574.50 million during the quarter, compared to the consensus estimate of $563.23 million. IDEX Corporation had a return on equity of 19.07% and a net margin of 13.48%. IDEX Corporation’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. On average, equities analysts predict that IDEX Corporation will post $4.26 earnings per share for the current year.
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In other news, SVP Jeffrey D. Bucklew sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $116.79, for a total transaction of $467,160.00. Following the completion of the transaction, the senior vice president now directly owns 6,726 shares in the company, valued at $785,529.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Daniel J. Salliotte sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $115.34, for a total value of $692,040.00. Following the sale, the senior vice president now directly owns 33,762 shares in the company, valued at approximately $3,894,109.08. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in IDEX Corporation by 8.8% during the second quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock worth $790,326,000 after purchasing an additional 568,369 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of IDEX Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 6,380,482 shares of the industrial products company’s stock valued at $721,058,000 after buying an additional 134,086 shares in the last quarter. Capital World Investors increased its holdings in shares of IDEX Corporation by 0.4% in the second quarter. Capital World Investors now owns 5,989,771 shares of the industrial products company’s stock valued at $676,904,000 after buying an additional 24,401 shares in the last quarter. State Street Corp increased its holdings in shares of IDEX Corporation by 20.6% in the second quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock valued at $270,781,000 after buying an additional 409,654 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of IDEX Corporation by 5.4% in the second quarter. Alliancebernstein L.P. now owns 1,801,923 shares of the industrial products company’s stock valued at $203,635,000 after buying an additional 92,345 shares in the last quarter. 98.49% of the stock is currently owned by hedge funds and other institutional investors.
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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