Brokerages Set IDEX Corporation (NYSE:IEX) Target Price at $203.29

IDEX Corporation (NYSE:IEX) has received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $203.2857.

IEX has been the topic of several research analyst reports. Citigroup raised their target price on shares of IDEX from $197.00 to $202.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Stifel Nicolaus raised their price objective on shares of IDEX from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $211.00 target price on shares of IDEX in a report on Thursday, January 15th. Oppenheimer set a $210.00 target price on IDEX in a research report on Tuesday, October 7th. Finally, TD Cowen reiterated a “buy” rating on shares of IDEX in a research report on Wednesday, December 3rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in IDEX by 3.4% in the 3rd quarter. Wellington Management Group LLP now owns 6,477,929 shares of the industrial products company’s stock worth $1,054,348,000 after buying an additional 211,696 shares in the last quarter. State Street Corp increased its stake in shares of IDEX by 1.8% in the third quarter. State Street Corp now owns 3,154,742 shares of the industrial products company’s stock worth $513,466,000 after acquiring an additional 54,990 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of IDEX by 193.6% during the third quarter. Nordea Investment Management AB now owns 2,364,312 shares of the industrial products company’s stock worth $382,049,000 after acquiring an additional 1,559,124 shares in the last quarter. Geode Capital Management LLC boosted its position in IDEX by 1.5% during the second quarter. Geode Capital Management LLC now owns 2,000,861 shares of the industrial products company’s stock valued at $349,869,000 after purchasing an additional 29,353 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in IDEX by 8.3% during the third quarter. Van ECK Associates Corp now owns 1,913,157 shares of the industrial products company’s stock valued at $311,385,000 after purchasing an additional 146,618 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Down 0.7%

Shares of NYSE:IEX opened at $198.30 on Thursday. The company’s fifty day moving average is $183.11 and its two-hundred day moving average is $172.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.93. IDEX has a 1-year low of $153.36 and a 1-year high of $226.04. The stock has a market capitalization of $14.84 billion, a price-to-earnings ratio of 31.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00.

IDEX (NYSE:IEX) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.10. IDEX had a return on equity of 15.20% and a net margin of 13.97%.The company had revenue of $878.70 million for the quarter, compared to analysts’ expectations of $861.44 million. During the same period last year, the business posted $1.90 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that IDEX will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, January 16th. IDEX’s payout ratio is presently 44.94%.

IDEX Company Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.