IDEX Co. (NYSE:IEX) – Analysts at Oppenheimer lifted their FY2020 earnings per share (EPS) estimates for IDEX in a research report issued on Wednesday, October 28th. Oppenheimer analyst B. Blair now anticipates that the industrial products company will post earnings of $5.08 per share for the year, up from their previous estimate of $4.77. Oppenheimer also issued estimates for IDEX’s Q4 2020 earnings at $1.25 EPS and FY2022 earnings at $5.95 EPS.
IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 27th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.20. IDEX had a return on equity of 18.15% and a net margin of 15.71%.
Other analysts have also issued research reports about the company. Stifel Nicolaus upped their target price on IDEX from $172.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Wells Fargo & Company upped their price objective on IDEX from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Boenning Scattergood upgraded IDEX from a “neutral” rating to an “outperform” rating in a research note on Friday, July 24th. Rosenblatt Securities upped their price objective on IDEX from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Finally, Zacks Investment Research upgraded IDEX from a “sell” rating to a “hold” rating and set a $187.00 price objective on the stock in a research note on Friday, September 25th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $173.82.
IEX opened at $178.76 on Monday. IDEX has a 52-week low of $104.56 and a 52-week high of $194.30. The firm has a market capitalization of $13.53 billion, a PE ratio of 36.56, a PEG ratio of 3.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 3.48. The business’s 50-day simple moving average is $184.16 and its 200 day simple moving average is $167.75.
Hedge funds have recently bought and sold shares of the stock. Newfound Research LLC acquired a new position in IDEX in the third quarter valued at about $31,000. Carroll Financial Associates Inc. raised its stake in IDEX by 4,033.3% in the third quarter. Carroll Financial Associates Inc. now owns 248 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 242 shares in the last quarter. Cerebellum GP LLC acquired a new position in IDEX in the second quarter valued at about $36,000. Citizens Financial Group Inc RI raised its stake in IDEX by 131.5% in the second quarter. Citizens Financial Group Inc RI now owns 419 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 238 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in IDEX by 24.3% in the second quarter. Fifth Third Bancorp now owns 1,063 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 208 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Jeffrey D. Bucklew sold 5,000 shares of IDEX stock in a transaction on Friday, August 21st. The stock was sold at an average price of $178.50, for a total transaction of $892,500.00. Also, CAO Michael J. Yates sold 15,397 shares of IDEX stock in a transaction on Friday, August 28th. The stock was sold at an average price of $180.17, for a total value of $2,774,077.49. Following the sale, the chief accounting officer now directly owns 28,763 shares of the company’s stock, valued at approximately $5,182,229.71. The disclosure for this sale can be found here. Insiders have sold 24,983 shares of company stock valued at $4,475,939 in the last three months. Insiders own 1.10% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Wednesday, October 14th. IDEX’s dividend payout ratio is currently 34.48%.
IDEX Corporation, together with its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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