IDEX Co. (NYSE:IEX) SVP Denise R. Cade sold 2,165 shares of the stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $228.00, for a total value of $493,620.00. Following the completion of the sale, the senior vice president now directly owns 9,824 shares of the company’s stock, valued at approximately $2,239,872. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NYSE:IEX traded down $0.34 during midday trading on Friday, hitting $226.00. 367,972 shares of the stock traded hands, compared to its average volume of 444,830. The stock has a market capitalization of $17.16 billion, a PE ratio of 46.22, a P/E/G ratio of 3.53 and a beta of 1.08. The business’s 50 day moving average is $215.07 and its two-hundred day moving average is $199.37. The company has a quick ratio of 2.97, a current ratio of 3.71 and a debt-to-equity ratio of 0.44. IDEX Co. has a one year low of $141.86 and a one year high of $235.76.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Monday, April 26th. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. IDEX had a net margin of 15.94% and a return on equity of 17.21%. The firm had revenue of $652.04 million during the quarter, compared to the consensus estimate of $634.96 million. During the same period in the prior year, the firm posted $1.33 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts forecast that IDEX Co. will post 5.15 earnings per share for the current year.
Several equities research analysts recently commented on IEX shares. Royal Bank of Canada upped their target price on IDEX from $232.00 to $247.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. Cowen downgraded shares of IDEX from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $200.00 to $220.00 in a report on Thursday, January 14th. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a report on Friday, February 5th. Wells Fargo & Company raised their target price on shares of IDEX from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Rosenblatt Securities raised their target price on shares of IDEX from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $223.44.
Large investors have recently bought and sold shares of the company. price T Rowe Associates Inc. MD boosted its holdings in IDEX by 1.9% in the fourth quarter. price T Rowe Associates Inc. MD now owns 5,517,459 shares of the industrial products company’s stock worth $1,099,078,000 after purchasing an additional 104,381 shares during the last quarter. Alliancebernstein L.P. grew its holdings in IDEX by 1.8% during the first quarter. Alliancebernstein L.P. now owns 1,267,896 shares of the industrial products company’s stock valued at $265,396,000 after purchasing an additional 22,048 shares during the period. Nordea Investment Management AB boosted its stake in shares of IDEX by 29.5% in the fourth quarter. Nordea Investment Management AB now owns 818,300 shares of the industrial products company’s stock worth $163,005,000 after acquiring an additional 186,357 shares during the period. Fenimore Asset Management Inc. boosted its stake in shares of IDEX by 1.2% in the first quarter. Fenimore Asset Management Inc. now owns 811,371 shares of the industrial products company’s stock worth $169,836,000 after acquiring an additional 9,330 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in shares of IDEX by 6.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 733,596 shares of the industrial products company’s stock worth $146,132,000 after acquiring an additional 46,655 shares during the period. Hedge funds and other institutional investors own 96.59% of the company’s stock.
IDEX Company Profile
IDEX Corporation, together with its subsidiaries, operates as an applied solutions company 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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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