IDEX Corp. (NYSE:IEX) – Analysts at Jefferies Group dropped their Q3 2016 earnings per share (EPS) estimates for IDEX Corp. in a research note issued to investors on Friday. Jefferies Group analyst B. Bohra now expects that the firm will post earnings of $0.93 per share for the quarter, down from their previous forecast of $0.95. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for IDEX Corp.’s Q4 2016 earnings at $0.94 EPS, FY2016 earnings at $3.75 EPS and FY2017 earnings at $4.04 EPS.
Several other equities research analysts have also issued reports on IEX. Zacks Investment Research lowered shares of IDEX Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th. Janney Montgomery Scott raised shares of IDEX Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $87.00 to $96.00 in a research report on Tuesday, July 19th. Royal Bank Of Canada reissued a “buy” rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of IDEX Corp. in a research report on Monday, June 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $85.86.
Shares of IDEX Corp. (NYSE:IEX) opened at 86.79 on Monday. The company has a 50-day moving average of $91.31 and a 200-day moving average of $86.98. The stock has a market capitalization of $6.61 billion, a PE ratio of 23.01 and a beta of 1.16. IDEX Corp. has a 12 month low of $67.20 and a 12 month high of $95.33.
IDEX Corp. (NYSE:IEX) last announced its quarterly earnings results on Monday, October 17th. 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 13.52% and a return on equity of 19.40%. 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.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, October 13th. IDEX Corp.’s dividend payout ratio (DPR) is presently 37.06%.
In other IDEX Corp. news, Director Gregory F. Milzcik sold 4,830 shares of the business’s 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 sale, the director now owns 5,375 shares of the company’s stock, valued at approximately $483,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andrew K. Silvernail sold 6,575 shares of the business’s stock in a transaction on Monday, August 8th. The shares were 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 in the company, 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 company insiders.
A number of large investors have recently made changes to their positions in IEX. Chilton Capital Management LLC acquired a new stake in shares of IDEX Corp. during the first quarter valued at about $261,000. Metropolitan Life Insurance Co. NY increased its stake in shares of IDEX Corp. by 2.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 72,130 shares of the company’s stock valued at $5,978,000 after buying an additional 1,444 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of IDEX Corp. by 12.7% in the first quarter. Wellington Management Group LLP now owns 2,571,528 shares of the company’s stock valued at $213,127,000 after buying an additional 289,735 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of IDEX Corp. by 6.7% in the first quarter. Geode Capital Management LLC now owns 468,847 shares of the company’s stock valued at $38,858,000 after buying an additional 29,509 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of IDEX Corp. by 58.6% in the first quarter. Goldman Sachs Group Inc. now owns 589,569 shares of the company’s stock valued at $48,863,000 after buying an additional 217,791 shares in the last quarter. 97.49% of the stock is currently owned by hedge funds and other institutional investors.
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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