IDEX Co. (NYSE:IEX) Director Ernest J. Mrozek sold 3,190 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $169.80, for a total value of $541,662.00. Following the completion of the transaction, the director now directly owns 13,745 shares in the company, valued at $2,333,901. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of NYSE:IEX opened at $164.82 on Friday. The business’s 50 day simple moving average is $159.31 and its two-hundred day simple moving average is $155.69. The firm has a market cap of $12.43 billion, a P/E ratio of 33.71, a PEG ratio of 3.48 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 3.48. IDEX Co. has a 52-week low of $104.56 and a 52-week high of $178.14.
IDEX (NYSE:IEX) last announced its quarterly earnings results on Friday, July 24th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $561.25 million for the quarter, compared to analyst estimates of $526.69 million. IDEX had a return on equity of 18.15% and a net margin of 15.71%. During the same quarter in the prior year, the company earned $1.50 earnings per share. On average, equities analysts forecast that IDEX Co. will post 4.79 earnings per share for the current fiscal year.
A number of brokerages have commented on IEX. Royal Bank of Canada reaffirmed a “buy” rating and issued a $160.00 price objective on shares of IDEX in a report on Monday, April 27th. Argus began coverage on IDEX in a report on Friday, June 19th. They issued a “buy” rating and a $180.00 price objective on the stock. Wells Fargo & Co upped their price objective on IDEX from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Rosenblatt Securities upped their price objective on IDEX from $172.00 to $178.00 and gave the company a “buy” rating in a report on Sunday, July 26th. Finally, Stifel Nicolaus upped their price objective on IDEX from $172.00 to $195.00 and gave the company a “buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. IDEX currently has a consensus rating of “Buy” and a consensus price target of $171.83.
Institutional investors have recently modified their holdings of the stock. Cerebellum GP LLC bought a new stake in IDEX during the second quarter worth $36,000. Twin Tree Management LP bought a new stake in IDEX during the first quarter worth $53,000. Squar Milner Financial Services LLC lifted its holdings in IDEX by 25.3% during the first quarter. Squar Milner Financial Services LLC now owns 659 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 133 shares during the period. Parallel Advisors LLC lifted its holdings in IDEX by 174.6% during the first quarter. Parallel Advisors LLC now owns 832 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 529 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in IDEX by 25.0% during the first quarter. Fifth Third Bancorp now owns 855 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 95.33% of the company’s stock.
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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