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

IDEX (NYSE:IEX) had its price objective cut by Robert W. Baird from $245.00 to $241.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on the company. Stifel Nicolaus increased their price target on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lowered their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. TD Cowen cut their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. DA Davidson decreased their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Finally, StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Stock Up 1.3 %

Shares of NYSE:IEX traded up $2.85 during trading on Thursday, reaching $217.49. The stock had a trading volume of 129,048 shares, compared to its average volume of 464,619. The company has a current ratio of 2.97, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $16.46 billion, a P/E ratio of 33.21, a PEG ratio of 2.32 and a beta of 0.95. The firm’s 50-day simple moving average is $206.81 and its 200 day simple moving average is $207.75. IDEX has a one year low of $189.33 and a one year high of $246.36.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.01. The company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. IDEX’s revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $2.12 earnings per share. As a group, research analysts expect that IDEX will post 7.86 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s payout ratio is 42.72%.

Hedge Funds Weigh In On IDEX

A number of institutional investors have recently modified their holdings of the stock. Catalyst Capital Advisors LLC grew its holdings in IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of IDEX during the 2nd quarter worth approximately $41,000. Whittier Trust Co. grew its stake in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors 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.