IDEX Corp. (NYSE:IEX) announced its quarterly earnings results on Monday. The company reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. IDEX Corp. had a net margin of 14.16% and a return on equity of 19.49%. The firm earned $530.40 million during the quarter, compared to analysts’ expectations of $536.29 million. During the same period in the previous year, the company earned $0.89 earnings per share. IDEX Corp.’s quarterly revenue was up 5.3% compared to the same quarter last year. IDEX Corp. updated its Q4 guidance to $0.92-0.94 EPS and its FY16 guidance to $3.72 to $3.74 EPS.
IDEX Corp. (NYSE:IEX) opened at 86.98 on Tuesday. IDEX Corp. has a 1-year low of $67.20 and a 1-year high of $95.33. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 23.06 and a beta of 1.16. The firm has a 50-day moving average of $91.54 and a 200-day moving average of $86.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be paid a $0.34 dividend. The ex-dividend date is Thursday, October 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.56%. IDEX Corp.’s dividend payout ratio is presently 35.98%.
IEX has been the subject of a number of research reports. Zacks Investment Research cut shares of IDEX Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th. Sanford C. Bernstein reissued a “market perform” rating on shares of IDEX Corp. in a research report on Monday, June 27th. Janney Montgomery Scott raised shares of IDEX Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $87.00 to $96.00 in a research report on Tuesday, July 19th. Jefferies Group reissued a “hold” rating on shares of IDEX Corp. in a research report on Tuesday, July 19th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. IDEX Corp. currently has an average rating of “Hold” and an average price target of $85.86.
In other news, Director Gregory F. Milzcik sold 4,830 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $90.00, for a total value of $434,700.00. Following the completion of the sale, the director now owns 5,375 shares of the company’s stock, valued at $483,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Andrew K. Silvernail sold 6,575 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $91.34, for a total transaction of $600,560.50. Following the completion of the sale, the chairman now directly owns 88,418 shares of the company’s stock, valued at approximately $8,076,100.12. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Chilton Capital Management LLC purchased a new stake in IDEX Corp. during the first quarter worth $261,000. Metropolitan Life Insurance Co. NY raised its stake in IDEX Corp. by 2.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 72,130 shares of the company’s stock worth $5,978,000 after buying an additional 1,444 shares during the last quarter. Wellington Management Group LLP raised its stake in IDEX Corp. by 12.7% in the first quarter. Wellington Management Group LLP now owns 2,571,528 shares of the company’s stock worth $213,127,000 after buying an additional 289,735 shares during the last quarter. Geode Capital Management LLC raised its stake in IDEX Corp. by 6.7% in the first quarter. Geode Capital Management LLC now owns 468,847 shares of the company’s stock worth $38,858,000 after buying an additional 29,509 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in IDEX Corp. by 58.6% in the first quarter. Goldman Sachs Group Inc. now owns 589,569 shares of the company’s stock worth $48,863,000 after buying an additional 217,791 shares during the last quarter. 97.49% of the stock is owned by institutional investors and hedge funds.
IDEX Corp. 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).
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