IDEX Corporation (NYSE:IEX) Receives $196.86 Consensus PT from Analysts

IDEX Corporation (NYSE:IEX) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $196.8571.

A number of research analysts have weighed in on IEX shares. Oppenheimer set a $210.00 price objective on shares of IDEX in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of IDEX in a research report on Wednesday, December 3rd. Citigroup boosted their price objective on IDEX from $197.00 to $202.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Stifel Nicolaus reduced their target price on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research note on Monday, October 20th.

IDEX Stock Down 0.0%

Shares of IEX stock opened at $184.70 on Friday. IDEX has a twelve month low of $153.36 and a twelve month high of $226.04. The stock has a market cap of $13.82 billion, a P/E ratio of 29.22, a P/E/G ratio of 1.85 and a beta of 1.00. The stock has a 50 day moving average of $174.60 and a 200 day moving average of $170.77. The company has a current ratio of 2.93, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. The business had revenue of $712.00 million for the quarter. IDEX has set its FY 2025 guidance at 7.860-7.91 EPS. As a group, sell-side analysts expect that IDEX will post 8.26 EPS for the current year.

IDEX declared that its board has authorized a stock repurchase program on Thursday, September 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, January 16th. This represents a $2.84 dividend on an annualized basis and a yield of 1.5%. IDEX’s dividend payout ratio is currently 44.94%.

Hedge Funds Weigh In On IDEX

A number of hedge funds have recently made changes to their positions in IEX. Vident Advisory LLC raised its holdings in shares of IDEX by 81.4% during the 1st quarter. Vident Advisory LLC now owns 2,879 shares of the industrial products company’s stock worth $521,000 after acquiring an additional 1,292 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in IDEX during the first quarter worth about $12,502,000. Millennium Management LLC raised its stake in IDEX by 1,232.4% during the first quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company’s stock worth $88,182,000 after purchasing an additional 450,704 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in IDEX by 1.1% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 9,359 shares of the industrial products company’s stock valued at $1,694,000 after purchasing an additional 104 shares during the last quarter. Finally, Petrus Trust Company LTA purchased a new stake in shares of IDEX in the 1st quarter valued at approximately $379,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Company Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.