IDEX (NYSE:IEX) Posts Earnings Results, Beats Expectations By $0.13 EPS

IDEX (NYSE:IEXGet Rating) released its quarterly earnings data on Tuesday. The industrial products company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13, RTT News reports. IDEX had a net margin of 16.65% and a return on equity of 18.61%. During the same period last year, the company earned $1.61 EPS. IDEX updated its FY22 guidance to $7.88-$7.98 EPS.

IDEX Trading Up 2.6 %

IEX stock traded up $5.27 during trading on Thursday, reaching $204.99. 3,381 shares of the stock were exchanged, compared to its average volume of 439,977. The company has a current ratio of 3.59, a quick ratio of 2.68 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $186.08 and a 200-day moving average price of $193.26. IDEX has a 1 year low of $172.18 and a 1 year high of $240.33. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 32.83, a P/E/G ratio of 2.10 and a beta of 1.02.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, July 14th. IDEX’s dividend payout ratio (DPR) is presently 38.52%.

Analyst Upgrades and Downgrades

IEX has been the topic of several analyst reports. Citigroup raised their price target on shares of IDEX from $219.00 to $228.00 in a research report on Thursday. Loop Capital dropped their price target on shares of IDEX from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Tuesday, July 19th. DA Davidson restated a “neutral” rating on shares of IDEX in a research report on Thursday, April 28th. Royal Bank of Canada reiterated a “maintains” rating on shares of IDEX in a research report on Thursday. Finally, Morgan Stanley dropped their target price on shares of IDEX from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Thursday, June 9th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.45.

Hedge Funds Weigh In On IDEX

A number of institutional investors have recently bought and sold shares of the company. Toroso Investments LLC raised its stake in IDEX by 8.3% during the first quarter. Toroso Investments LLC now owns 5,970 shares of the industrial products company’s stock worth $1,145,000 after purchasing an additional 457 shares during the period. BNP Paribas Arbitrage SA raised its stake in IDEX by 7.6% during the first quarter. BNP Paribas Arbitrage SA now owns 118,856 shares of the industrial products company’s stock worth $22,788,000 after purchasing an additional 8,397 shares during the period. Beacon Pointe Advisors LLC purchased a new stake in shares of IDEX in the 1st quarter valued at approximately $205,000. Quantbot Technologies LP raised its stake in shares of IDEX by 158.0% in the 1st quarter. Quantbot Technologies LP now owns 14,877 shares of the industrial products company’s stock valued at $2,852,000 after acquiring an additional 9,111 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of IDEX by 11.3% in the 1st quarter. Royal Bank of Canada now owns 206,677 shares of the industrial products company’s stock valued at $39,626,000 after acquiring an additional 20,937 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

IDEX Company Profile

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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, 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.

See Also

Earnings History for IDEX (NYSE:IEX)

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