IDEX Co. (NYSE:IEX) – Equities researchers at DA Davidson decreased their Q4 2018 earnings per share (EPS) estimates for IDEX in a report released on Wednesday, October 24th. DA Davidson analyst M. Summerville now anticipates that the industrial products company will earn $1.27 per share for the quarter, down from their previous estimate of $1.33. DA Davidson also issued estimates for IDEX’s Q2 2019 earnings at $1.50 EPS.
Several other brokerages have also recently issued reports on IEX. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a report on Monday, July 30th. Robert W. Baird decreased their target price on shares of IDEX from $145.00 to $139.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Oppenheimer reaffirmed a “hold” rating on shares of IDEX in a report on Wednesday, July 25th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $170.00 target price (up from $165.00) on shares of IDEX in a report on Wednesday, July 25th. Finally, UBS Group set a $142.00 target price on shares of IDEX and gave the stock a “hold” rating in a report on Friday, October 26th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $145.55.
IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.41 EPS for the quarter, topping the 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 business had revenue of $623.00 million for the quarter, compared to analyst estimates of $613.94 million. During the same quarter in the previous year, the firm posted $1.08 earnings per share. IDEX’s quarterly revenue was up 8.4% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IEX. SRS Capital Advisors Inc. raised its holdings in shares of IDEX by 83.0% during the second quarter. SRS Capital Advisors Inc. now owns 745 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 338 shares during the last quarter. Fort L.P. purchased a new position in shares of IDEX during the second quarter valued at approximately $118,000. First Hawaiian Bank purchased a new position in shares of IDEX during the third quarter valued at approximately $120,000. Point72 Hong Kong Ltd purchased a new position in shares of IDEX during the second quarter valued at approximately $153,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of IDEX during the second quarter valued at approximately $155,000. 94.97% of the stock is owned by hedge funds and other institutional investors.
In other IDEX news, VP Michael J. Yates sold 5,804 shares of IDEX stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $154.13, for a total value of $894,570.52. Following the completion of the transaction, the vice president now directly owns 32,376 shares of the company’s stock, valued at $4,990,112.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William M. Cook sold 1,933 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $152.06, for a total transaction of $293,931.98. Following the transaction, the director now directly owns 17,288 shares of the company’s stock, valued at $2,628,813.28. The disclosure for this sale can be found here. Insiders sold 15,316 shares of company stock valued at $2,350,746 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, October 15th. This represents a $1.72 annualized dividend and a yield of 1.37%. IDEX’s dividend payout ratio (DPR) is presently 39.91%.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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