IDEX (NYSE:IEX) Price Target Cut to $241.00 by Analysts at Robert W. Baird

IDEX (NYSE:IEX) had its target price cut by Robert W. Baird from $245.00 to $241.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the stock. DA Davidson reduced their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Stifel Nicolaus increased their price target on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen dropped their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $241.14.

IDEX Trading Up 1.3 %

IEX traded up $2.85 on Thursday, hitting $217.49. The company had a trading volume of 129,048 shares, compared to its average volume of 464,619. The business’s fifty day simple moving average is $206.81 and its 200 day simple moving average is $207.75. The company has a quick ratio of 2.52, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. IDEX has a 12-month low of $189.33 and a 12-month high of $246.36. The company has a market cap of $16.46 billion, a PE ratio of 33.21, a PEG ratio of 2.32 and a beta of 0.95.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the previous year, the business earned $2.12 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts expect that IDEX will post 7.86 EPS for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.69 per share. The ex-dividend date was Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.27%. IDEX’s payout ratio is currently 42.72%.

Institutional Investors Weigh In On IDEX

Hedge funds have recently made changes to their positions in the company. Catalyst Capital Advisors LLC raised its holdings in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 59 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. EdgeRock Capital LLC bought a new position in shares of IDEX during the second quarter valued at approximately $41,000. Whittier Trust Co. boosted its stake in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after buying an additional 57 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Company Profile

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.