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.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.10. IDEX had a net margin of 16.54% and a return on equity of 20.40%. The firm had revenue of $623.00 million for the quarter, compared to analyst estimates of $613.94 million. During the same quarter last year, the firm posted $1.08 earnings per share. IDEX’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts expect that IDEX will post 5.36 earnings per share for the current fiscal year.

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.

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About IDEX

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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Dividend History for IDEX (NYSE:IEX)

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