IDEX Co. (IEX) to Issue $0.43 Quarterly Dividend
IDEX Co. (NYSE:IEX) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Stockholders of record on Tuesday, January 15th will be paid a dividend of 0.43 per share by the industrial products company on Wednesday, January 30th. This represents a $1.72 annualized dividend and a dividend yield of 1.27%.
IDEX has increased its dividend by an average of 10.7% annually over the last three years and has increased its dividend every year for the last 8 years. IDEX has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect IDEX to earn $5.77 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 29.8%.
Shares of IEX stock traded up $0.55 during trading hours on Thursday, hitting $135.04. 409,381 shares of the company were exchanged, compared to its average volume of 328,330. IDEX has a 1 year low of $123.47 and a 1 year high of $157.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 2.41. The firm has a market cap of $10.32 billion, a P/E ratio of 31.33, a PEG ratio of 2.45 and a beta of 1.33.
Several research analysts recently commented on IEX shares. UBS Group set a $142.00 price target on shares of IDEX and gave the company a “hold” rating in a report on Friday, October 26th. Robert W. Baird cut their price target on shares of IDEX from $145.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Stifel Nicolaus raised their price target on shares of IDEX from $149.00 to $150.00 and gave the company a “hold” rating in a report on Monday, October 8th. Zacks Investment Research lowered shares of IDEX from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, Janney Montgomery Scott upgraded shares of IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price target on the stock in a report on Thursday, October 25th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. IDEX presently has an average rating of “Hold” and an average target price of $146.00.
IDEX Corporation, through 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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