Rosenblatt Securities began coverage on shares of IDEX (NYSE:IEX) in a research report report published on Thursday, The Fly reports. The firm issued a buy rating and a $185.00 price target on the industrial products company’s stock.

IEX has been the subject of several other research reports. Citigroup began coverage on IDEX in a report on Monday, September 30th. They issued a neutral rating and a $175.00 price objective for the company. ValuEngine cut IDEX from a buy rating to a hold rating in a report on Tuesday, October 1st. Stifel Nicolaus increased their price objective on IDEX from $157.00 to $162.00 and gave the stock a hold rating in a report on Monday, July 29th. Finally, Wells Fargo & Co dropped their price objective on IDEX from $200.00 to $190.00 and set an outperform rating for the company in a report on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $174.14.

IEX stock traded down $0.76 during trading on Thursday, hitting $159.62. 211,681 shares of the company traded hands, compared to its average volume of 464,973. IDEX has a 1 year low of $117.72 and a 1 year high of $173.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.39 and a current ratio of 3.21. The company has a 50-day moving average of $159.81 and a 200-day moving average of $161.59. The firm has a market capitalization of $12.21 billion, a PE ratio of 29.50, a P/E/G ratio of 2.76 and a beta of 1.21.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.06. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The business had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $641.66 million. During the same quarter last year, the business posted $1.41 EPS. The business’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that IDEX will post 5.81 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Tuesday, October 15th. IDEX’s payout ratio is presently 36.97%.

In other news, Director William M. Cook sold 4,080 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $161.93, for a total value of $660,674.40. Following the completion of the transaction, the director now owns 22,308 shares in the company, valued at approximately $3,612,334.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Eric D. Ashleman sold 2,922 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $165.75, for a total value of $484,321.50. Following the completion of the transaction, the chief operating officer now owns 22,453 shares of the company’s stock, valued at approximately $3,721,584.75. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of IEX. Invesco Ltd. increased its position in IDEX by 69.3% during the 2nd quarter. Invesco Ltd. now owns 1,469,664 shares of the industrial products company’s stock valued at $252,989,000 after buying an additional 601,539 shares in the last quarter. Victory Capital Management Inc. increased its position in IDEX by 766.4% during the 2nd quarter. Victory Capital Management Inc. now owns 239,011 shares of the industrial products company’s stock valued at $41,144,000 after buying an additional 211,424 shares in the last quarter. Nuveen Asset Management LLC increased its position in IDEX by 358.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 246,582 shares of the industrial products company’s stock valued at $42,446,000 after buying an additional 192,795 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in IDEX by 97.5% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 364,534 shares of the industrial products company’s stock valued at $62,751,000 after buying an additional 179,980 shares in the last quarter. Finally, BlackRock Inc. increased its position in IDEX by 2.0% during the 2nd quarter. BlackRock Inc. now owns 8,206,026 shares of the industrial products company’s stock valued at $1,412,586,000 after buying an additional 157,873 shares in the last quarter. 95.25% of the stock is owned by institutional investors.

IDEX Company Profile

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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