IDEX (NYSE:IEX) Shares Gap Down – Here’s What Happened

IDEX Co. (NYSE:IEX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $218.65, but opened at $208.16. IDEX shares last traded at $201.07, with a volume of 20,507 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird reduced their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada dropped their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Citigroup dropped their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

IDEX Stock Up 0.5 %

The firm has a market capitalization of $15.18 billion, a PE ratio of 31.02, a P/E/G ratio of 2.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The company has a 50-day moving average price of $216.98 and a 200 day moving average price of $211.91.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. Analysts forecast that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.38%. IDEX’s dividend payout ratio is 42.72%.

Institutional Trading of IDEX

Several institutional investors and hedge funds have recently modified their holdings of IEX. Creative Planning lifted its stake in IDEX by 8.2% in the second quarter. Creative Planning now owns 5,347 shares of the industrial products company’s stock worth $1,076,000 after acquiring an additional 407 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of IDEX by 106.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 452 shares of the industrial products company’s stock valued at $91,000 after buying an additional 233 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in IDEX in the second quarter valued at approximately $862,000. Czech National Bank grew its holdings in IDEX by 6.9% in the third quarter. Czech National Bank now owns 15,421 shares of the industrial products company’s stock worth $3,308,000 after purchasing an additional 997 shares during the last quarter. Finally, CWM LLC increased its position in shares of IDEX by 10.4% during the third quarter. CWM LLC now owns 2,064 shares of the industrial products company’s stock worth $443,000 after purchasing an additional 195 shares in the last quarter. 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.