IDEX Co. (NYSE:IEX) SVP Jeffrey D. Bucklew sold 3,003 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $162.50, for a total transaction of $487,987.50. Following the completion of the transaction, the senior vice president now owns 4,131 shares of the company’s stock, valued at $671,287.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
IEX stock opened at $162.01 on Thursday. IDEX Co. has a 12 month low of $117.72 and a 12 month high of $173.84. The firm has a market cap of $12.33 billion, a PE ratio of 29.95, a P/E/G ratio of 2.79 and a beta of 1.21. The firm has a 50 day simple moving average of $159.18 and a 200 day simple moving average of $161.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.21 and a quick ratio of 2.39.
IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.46 by $0.06. IDEX had a net margin of 17.05% and a return on equity of 21.28%. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $641.66 million. During the same period in the prior year, the business earned $1.41 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts expect that IDEX Co. will post 5.81 earnings per share for the current year.
IEX has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of IDEX in a report on Monday, September 30th. They issued a “neutral” rating and a $175.00 price objective for the company. ValuEngine cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Wells Fargo & Co decreased their price objective on shares of IDEX from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Rosenblatt Securities initiated coverage on shares of IDEX in a report on Thursday, November 7th. They issued a “buy” rating and a $185.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on shares of IDEX from $157.00 to $162.00 and gave the company a “hold” rating in a report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $174.14.
Hedge funds have recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC acquired a new stake in IDEX during the second quarter valued at approximately $27,000. Squar Milner Financial Services LLC lifted its stake in IDEX by 376.5% during the third quarter. Squar Milner Financial Services LLC now owns 162 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 128 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in IDEX during the second quarter valued at approximately $33,000. SRS Capital Advisors Inc. acquired a new stake in IDEX during the second quarter valued at approximately $44,000. Finally, River & Mercantile Asset Management LLP acquired a new stake in IDEX during the second quarter valued at approximately $45,000. 92.45% of the stock is owned by institutional investors and hedge funds.
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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