IDEX Co. Plans Quarterly Dividend of $0.69 (NYSE:IEX)

IDEX Co. (NYSE:IEX) declared a quarterly dividend on Wednesday, November 13th,RTT News reports. Shareholders of record on Friday, January 17th will be given a dividend of 0.69 per share by the industrial products company on Friday, January 31st. This represents a $2.76 annualized dividend and a yield of 1.19%.

IDEX has increased its dividend by an average of 8.0% per year over the last three years and has raised its dividend every year for the last 15 years. IDEX has a dividend payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect IDEX to earn $8.50 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 32.5%.

IDEX Stock Up 0.1 %

Shares of IEX traded up $0.28 during midday trading on Thursday, reaching $231.28. The stock had a trading volume of 61,074 shares, compared to its average volume of 471,457. 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’s fifty day simple moving average is $210.90 and its two-hundred day simple moving average is $207.59. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.41 and a beta of 0.96. IDEX has a 1-year low of $189.51 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same period in the previous year, the business earned $2.12 EPS. IDEX’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts expect that IDEX will post 7.88 earnings per share for the current year.

Wall Street Analyst Weigh In

IEX has been the topic of a number of recent analyst reports. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. TD Cowen reduced their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Oppenheimer lowered their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $241.14.

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.