IDEX (NYSE:IEX) Given New $248.00 Price Target at Royal Bank of Canada

IDEX (NYSE:IEX) had its price objective hoisted by Royal Bank of Canada from $236.00 to $248.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on IEX. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Stifel Nicolaus upped their price objective on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Oppenheimer dropped their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Robert W. Baird decreased their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, DA Davidson dropped their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Trading Up 0.7 %

Shares of IDEX stock opened at $216.05 on Thursday. The company’s 50-day moving average price is $207.06 and its 200-day moving average price is $207.50. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.27 and a beta of 0.96. IDEX has a 12-month low of $189.33 and a 12-month high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. The firm had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $2.12 EPS. On average, equities analysts expect that IDEX will post 7.87 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s dividend payout ratio is presently 42.72%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Catalyst Capital Advisors LLC boosted its holdings in IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 59 shares during the period. Assetmark Inc. bought a new stake in IDEX in the third quarter valued at approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares during the period. EdgeRock Capital LLC bought a new position in shares of IDEX in the second quarter worth approximately $41,000. Finally, Whittier Trust Co. increased its stake in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares during the period. 97.96% of the stock is owned by institutional investors.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.