Robert W. Baird Cuts IDEX (NYSE:IEX) Price Target to $241.00

IDEX (NYSE:IEX) had its price objective trimmed by Robert W. Baird from $245.00 to $241.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other brokerages also recently commented on IEX. Stifel Nicolaus lifted their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada lowered their price target on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. DA Davidson cut their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. StockNews.com downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Finally, Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Trading Up 0.7 %

Shares of IEX stock opened at $216.05 on Thursday. IDEX has a twelve month low of $189.33 and a twelve month high of $246.36. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.27 and a beta of 0.96. The firm has a 50-day moving average price of $207.06 and a 200 day moving average price of $207.65. 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 posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.12 earnings per share. Research analysts forecast that IDEX will post 7.87 earnings per share for the current fiscal year.

IDEX Dividend Announcement

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

Hedge Funds Weigh In On IDEX

Several hedge funds and other institutional investors have recently made changes to their positions in IEX. Catalyst Capital Advisors LLC raised its position in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares during the period. Assetmark Inc. purchased a new stake in shares of IDEX during the 3rd quarter valued at about $39,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after buying an additional 100 shares during the period. EdgeRock Capital LLC acquired a new position in IDEX during the 2nd quarter worth approximately $41,000. Finally, Whittier Trust Co. boosted its holdings in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Company Profile

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.