IDEX (NYSE:IEX) Share Price Passes Above 200-Day Moving Average – What’s Next?

IDEX Co. (NYSE:IEX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $209.58 and traded as high as $211.40. IDEX shares last traded at $206.06, with a volume of 379,791 shares.

Analyst Upgrades and Downgrades

IEX has been the subject of several research reports. Robert W. Baird decreased their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada upped their price target on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Stifel Nicolaus lifted their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup raised their price target on IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

IDEX Trading Up 0.5 %

The company has a fifty day simple moving average of $221.92 and a two-hundred day simple moving average of $209.63. The company has a market capitalization of $15.68 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $2.12 EPS. On average, analysts forecast that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.33%. IDEX’s payout ratio is presently 42.72%.

Institutional Trading of IDEX

Hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC increased its position in 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. Assetmark Inc. acquired a new stake in shares of IDEX in the third quarter worth $39,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in IDEX by 19.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 57 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in IDEX in the 3rd quarter valued at $86,000. 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.