IDEX (NYSE:IEX) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

IDEX Co. (NYSE:IEX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $209.58 and traded as high as $211.40. IDEX shares last traded at $206.06, with a volume of 379,791 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IEX. Citigroup upped their price target on shares of IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada lifted their price target on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Stifel Nicolaus increased their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.14.

IDEX Stock Performance

The company has a market capitalization of $15.68 billion, a price-to-earnings ratio of 32.05, a P/E/G ratio of 2.36 and a beta of 0.96. The stock has a 50 day simple moving average of $221.92 and a 200 day simple moving average of $209.63. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 EPS. As a group, analysts anticipate that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.33%. IDEX’s payout ratio is currently 42.72%.

Institutional Trading of IDEX

Large investors have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC raised its stake in shares of IDEX by 73.8% during 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 in the last quarter. Assetmark Inc. bought a new position in shares of IDEX in the third quarter valued at approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. EverSource Wealth Advisors LLC lifted its position in IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 57 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of IDEX during the 3rd quarter valued at $86,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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.