IDEX Corporation (IEX) Receives Hold Rating from Cowen and Company

Cowen and Company restated their hold rating on shares of IDEX Corporation (NYSE:IEX) in a research report report published on Friday. The brokerage currently has a $95.00 price objective on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on IEX. Jefferies Group LLC reiterated a hold rating on shares of IDEX Corporation in a research report on Friday. Zacks Investment Research upgraded shares of IDEX Corporation from a hold rating to a buy rating and set a $139.00 price objective on the stock in a research report on Thursday, October 5th. Robert W. Baird reiterated a buy rating and set a $129.00 price objective on shares of IDEX Corporation in a research report on Wednesday, October 4th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of IDEX Corporation in a research report on Thursday, September 21st. Finally, BMO Capital Markets reiterated a hold rating and set a $110.00 price objective on shares of IDEX Corporation in a research report on Wednesday, September 6th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $111.88.

Shares of IDEX Corporation (NYSE IEX) opened at 123.13 on Friday. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 33.00 and a beta of 1.19. The company’s 50-day moving average is $120.01 and its 200-day moving average is $110.67. IDEX Corporation has a 12-month low of $82.05 and a 12-month high of $125.42.

IDEX Corporation (NYSE:IEX) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The company had revenue of $573.40 million for the quarter, compared to analysts’ expectations of $568.43 million. During the same quarter last year, the business earned $0.99 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts predict that IDEX Corporation will post $4.24 earnings per share for the current year.

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

In related news, Chairman Andrew K. Silvernail sold 50,000 shares of the business’s stock in a transaction on 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 sale, the chairman now owns 142,114 shares in the company, valued at $16,343,110. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel J. Salliotte sold 6,000 shares of the business’s stock in a transaction on 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 owns 33,762 shares in the company, valued at approximately $3,894,109.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,000 shares of company stock worth $6,909,200. Company insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. increased its position in IDEX Corporation by 468.9% in the second quarter. Prudential Financial Inc. now owns 368,154 shares of the industrial products company’s stock worth $41,605,000 after purchasing an additional 303,440 shares during the last quarter. Asset Management One Co. Ltd. increased its position in IDEX Corporation by 129.5% in the first quarter. Asset Management One Co. Ltd. now owns 20,120 shares of the industrial products company’s stock worth $1,871,000 after purchasing an additional 11,352 shares during the last quarter. Louisiana State Employees Retirement System increased its position in IDEX Corporation by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the industrial products company’s stock worth $2,249,000 after purchasing an additional 600 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in IDEX Corporation in the second quarter worth $2,766,000. Finally, BlackRock Inc. increased its position in IDEX Corporation by 7,037.4% in

Several other equities research analysts have also recently issued reports on IEX. Jefferies Group LLC reiterated a hold rating on shares of IDEX Corporation in a research report on Friday. Zacks Investment Research upgraded shares of IDEX Corporation from a hold rating to a buy rating and set a $139.00 price objective on the stock in a research report on Thursday, October 5th. Robert W. Baird reiterated a buy rating and set a $129.00 price objective on shares of IDEX Corporation in a research report on Wednesday, October 4th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of IDEX Corporation in a research report on Thursday, September 21st. Finally, BMO Capital Markets reiterated a hold rating and set a $110.00 price objective on shares of IDEX Corporation in a research report on Wednesday, September 6th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $111.88.

Shares of IDEX Corporation (NYSE IEX) opened at 123.13 on Friday. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 33.00 and a beta of 1.19. The company’s 50-day moving average is $120.01 and its 200-day moving average is $110.67. IDEX Corporation has a 12-month low of $82.05 and a 12-month high of $125.42.

IDEX Corporation (NYSE:IEX) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The company had revenue of $573.40 million for the quarter, compared to analysts’ expectations of $568.43 million. During the same quarter last year, the business earned $0.99 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts predict that IDEX Corporation will post $4.24 earnings per share for the current year.

WARNING: This story was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://ledgergazette.com/2017/10/10/idex-corporation-iex-receives-hold-rating-from-cowen-and-company.html.

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

In related news, Chairman Andrew K. Silvernail sold 50,000 shares of the business’s stock in a transaction on 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 sale, the chairman now owns 142,114 shares in the company, valued at $16,343,110. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel J. Salliotte sold 6,000 shares of the business’s stock in a transaction on 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 owns 33,762 shares in the company, valued at approximately $3,894,109.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,000 shares of company stock worth $6,909,200. Company insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. increased its position in IDEX Corporation by 468.9% in the second quarter. Prudential Financial Inc. now owns 368,154 shares of the industrial products company’s stock worth $41,605,000 after purchasing an additional 303,440 shares during the last quarter. Asset Management One Co. Ltd. increased its position in IDEX Corporation by 129.5% in the first quarter. Asset Management One Co. Ltd. now owns 20,120 shares of the industrial products company’s stock worth $1,871,000 after purchasing an additional 11,352 shares during the last quarter. Louisiana State Employees Retirement System increased its position in IDEX Corporation by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the industrial products company’s stock worth $2,249,000 after purchasing an additional 600 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in IDEX Corporation in the second quarter worth $2,766,000. Finally, BlackRock Inc. increased its position in IDEX Corporation by 7,037.4% in the first quarter. BlackRock Inc. now owns 6,425,051 shares of the industrial products company’s stock worth $600,808,000 after purchasing an additional 6,335,032 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

About IDEX Corporation

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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