IDEX Corporation (IEX) Earns “Hold” Rating from Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. restated their hold rating on shares of IDEX Corporation (NYSE:IEX) in a report released on Thursday.

A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded IDEX Corporation from a hold rating to a buy rating and set a $138.00 price objective for the company in a report on Thursday. BMO Capital Markets restated a hold rating and issued a $110.00 price objective on shares of IDEX Corporation in a report on Wednesday, September 6th. Stifel Nicolaus restated a hold rating and issued a $120.00 price objective on shares of IDEX Corporation in a report on Sunday, September 3rd. BidaskClub downgraded IDEX Corporation from a buy rating to a hold rating in a report on Saturday, August 12th. Finally, Jefferies Group LLC restated a hold rating and issued a $91.00 price objective on shares of IDEX Corporation in a report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $108.63.

Shares of IDEX Corporation (IEX) opened at 123.12 on Thursday. IDEX Corporation has a 52 week low of $82.05 and a 52 week high of $124.11. The firm has a market capitalization of $9.41 billion, a PE ratio of 33.00 and a beta of 1.19. The company’s 50 day moving average price is $116.81 and its 200-day moving average price is $107.55.

IDEX Corporation (NYSE:IEX) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. The business had revenue of $573.40 million during the quarter, compared to the consensus estimate of $568.43 million. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. IDEX Corporation’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. On average, equities research analysts expect that IDEX Corporation will post $4.23 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, October 13th. This represents a $1.48 dividend on an annualized basis and a yield of 1.20%. IDEX Corporation’s payout ratio is currently 39.68%.

In other IDEX Corporation news, SVP Daniel J. Salliotte sold 6,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $115.34, for a total transaction of $692,040.00. Following the completion of the sale, the senior vice president now directly owns 33,762 shares in the company, valued at approximately $3,894,109.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Andrew K. Silvernail sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $5,750,000.00. Following the completion of the sale, the chairman now owns 142,114 shares of the company’s stock, valued at $16,343,110. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,000 shares of company stock valued at $6,909,200. Company insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of IEX. US Bancorp DE grew its stake in shares of IDEX Corporation by 1.4% in the 1st quarter. US Bancorp DE now owns 2,646 shares of the industrial products company’s stock valued at $247,000 after buying an additional 37 shares during the period. World Asset Management Inc grew its stake in shares of IDEX Corporation by 14.4% in the 1st quarter. World Asset Management Inc now owns 5,611 shares of the industrial products company’s stock valued at $525,000 after buying an additional 708 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of IDEX Corporation by 5.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 81,522 shares of the industrial products company’s stock valued at $7,623,000 after buying an additional 4,432 shares during the period. Karp Capital Management Corp acquired a new stake in shares of IDEX Corporation in the 1st quarter valued at about $2,637,000. Finally, Eagle Asset Management Inc. grew its stake in shares of IDEX Corporation by 66.3% in the 1st quarter. Eagle Asset Management Inc. now owns 14,929 shares of the industrial products company’s stock valued at $1,396,000 after buying an additional 5,950 shares during the period. Institutional investors own 98.50% of the company’s stock.

IDEX Corporation Company Profile

IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).

Analyst Recommendations for IDEX Corporation (NYSE:IEX)

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