Royal Bank of Canada Lowers IDEX (NYSE:IEX) Price Target to $245.00

IDEX (NYSE:IEX) had its price objective reduced by Royal Bank of Canada from $256.00 to $245.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

IEX has been the topic of a number of other reports. Robert W. Baird decreased their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus increased their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Citigroup dropped their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEX has an average rating of “Moderate Buy” and an average target price of $241.00.

IDEX Trading Up 0.7 %

IEX stock opened at $198.89 on Thursday. The firm has a fifty day moving average price of $216.98 and a 200 day moving average price of $211.91. IDEX has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The firm has a market cap of $15.06 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. Sell-side analysts anticipate that IDEX will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, January 17th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Institutional Trading of IDEX

Several institutional investors and hedge funds have recently made changes to their positions in the business. Studio Investment Management LLC grew its holdings in shares of IDEX by 4.9% in the third quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 45 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of IDEX by 4.1% in the fourth quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 48 shares during the period. Albert D Mason Inc. increased its holdings in IDEX by 1.3% during the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock worth $948,000 after purchasing an additional 56 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares during the period. Finally, Diversified Trust Co grew its position in shares of IDEX by 1.0% during the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after buying an additional 59 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

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.