IDEX Co. (NYSE:IEX) SVP Jeffrey D. Bucklew sold 4,000 shares of IDEX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $168.00, for a total transaction of $672,000.00. Following the completion of the transaction, the senior vice president now owns 5,128 shares in the company, valued at approximately $861,504. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of IEX stock traded down $1.54 during mid-day trading on Wednesday, reaching $168.22. The company’s stock had a trading volume of 419,230 shares, compared to its average volume of 343,239. The firm’s 50 day moving average is $167.33. IDEX Co. has a 12-month low of $117.72 and a 12-month high of $173.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.36 and a quick ratio of 2.53. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.90 and a beta of 1.25.
IDEX (NYSE:IEX) last issued its earnings results on Thursday, July 25th. The industrial products company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. IDEX had a net margin of 17.11% and a return on equity of 21.20%. The business had revenue of $642.10 million for the quarter, compared to the consensus estimate of $655.87 million. During the same quarter last year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that IDEX Co. will post 5.82 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in IEX. Advisor Group Inc. lifted its stake in shares of IDEX by 12.2% in the 2nd quarter. Advisor Group Inc. now owns 3,810 shares of the industrial products company’s stock worth $655,000 after acquiring an additional 414 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of IDEX by 1.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,010 shares of the industrial products company’s stock worth $2,412,000 after acquiring an additional 150 shares during the period. Aperio Group LLC lifted its stake in shares of IDEX by 8.7% in the 2nd quarter. Aperio Group LLC now owns 44,742 shares of the industrial products company’s stock worth $7,702,000 after acquiring an additional 3,590 shares during the period. Dupont Capital Management Corp lifted its stake in shares of IDEX by 2.4% in the 2nd quarter. Dupont Capital Management Corp now owns 122,260 shares of the industrial products company’s stock worth $21,046,000 after acquiring an additional 2,836 shares during the period. Finally, Meritage Portfolio Management raised its holdings in shares of IDEX by 1.7% in the 2nd quarter. Meritage Portfolio Management now owns 41,955 shares of the industrial products company’s stock worth $7,222,000 after purchasing an additional 709 shares in the last quarter. 94.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on IEX. DA Davidson reiterated a “neutral” rating on shares of IDEX in a report on Friday, April 26th. Stifel Nicolaus lifted their price target on shares of IDEX from $157.00 to $162.00 and gave the company a “hold” rating in a report on Monday. Oppenheimer reiterated a “hold” rating on shares of IDEX in a report on Wednesday, May 8th. Zacks Investment Research lowered shares of IDEX from a “buy” rating to a “hold” rating and set a $181.00 price target on the stock. in a report on Monday, July 1st. Finally, Wells Fargo & Co lifted their price target on shares of IDEX from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $162.38.
IDEX Company Profile
IDEX Corporation, through 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, 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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