IDEX Co. (NYSE:IEX – Get Free Report) declared a quarterly dividend on Wednesday, September 18th, NASDAQ reports. Investors of record on Friday, October 11th will be given a dividend of 0.69 per share by the industrial products company on Friday, October 25th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, October 11th.
IDEX has raised its dividend by an average of 8.0% annually over the last three years and has increased its dividend every year for the last 15 years. IDEX has a dividend payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect IDEX to earn $8.58 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 32.2%.
IDEX Stock Down 0.1 %
Shares of NYSE IEX opened at $208.41 on Wednesday. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The firm has a 50-day simple moving average of $202.39 and a two-hundred day simple moving average of $210.99. The company has a market cap of $15.78 billion, a P/E ratio of 27.42, a PEG ratio of 2.22 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Robert W. Baird cut their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen lowered their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus cut their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, DA Davidson reduced their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Three 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, IDEX has a consensus rating of “Moderate Buy” and an average price target of $238.29.
View Our Latest Stock Report on IDEX
About IDEX
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.
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