IDEX Co. (NYSE:IEX) COO Eric D. Ashleman sold 5,608 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $170.02, for a total value of $953,472.16. Following the sale, the chief operating officer now owns 25,375 shares of the company’s stock, valued at approximately $4,314,257.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of NYSE:IEX opened at $158.12 on Thursday. The firm’s 50 day simple moving average is $167.58. IDEX Co. has a twelve month low of $117.72 and a twelve month high of $173.84. The company has a market cap of $11.91 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.53 and a current ratio of 3.36.
IDEX (NYSE:IEX) last announced its earnings results on Thursday, July 25th. The industrial products company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. IDEX had a return on equity of 21.20% and a net margin of 17.11%. The firm had revenue of $642.10 million during the quarter, compared to the consensus estimate of $655.87 million. During the same quarter in the prior year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts predict that IDEX Co. will post 5.83 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the business. Cornerstone Advisors Inc. raised its holdings in shares of IDEX by 64.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $28,000 after buying an additional 72 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of IDEX by 55.7% in the 1st quarter. Parallel Advisors LLC now owns 204 shares of the industrial products company’s stock worth $31,000 after buying an additional 73 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of IDEX in the 2nd quarter worth approximately $33,000. Pendal Group Ltd acquired a new position in shares of IDEX in the 2nd quarter worth approximately $47,000. Finally, FTB Advisors Inc. acquired a new position in shares of IDEX in the 2nd quarter worth approximately $73,000. Institutional investors own 94.59% of the company’s stock.
Several analysts recently weighed in on the company. Berenberg Bank assumed coverage on IDEX in a research note on Wednesday, May 15th. They set a “buy” rating and a $180.00 target price for the company. DA Davidson restated a “neutral” rating on shares of IDEX in a research note on Friday, April 26th. Oppenheimer restated a “hold” rating on shares of IDEX in a research note on Wednesday, May 8th. Zacks Investment Research downgraded IDEX from a “buy” rating to a “hold” rating and set a $181.00 target price for the company. in a research note on Monday, July 1st. Finally, Wells Fargo & Co increased their target price on IDEX from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $162.38.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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