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

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 dividend on an annualized basis and a yield of 1.19%.

IDEX has raised its dividend payment by an average of 8.0% per year over the last three years and has increased its dividend every year for the last 15 years. IDEX has a dividend payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.1 %

Shares of IEX traded up $0.28 during midday trading on Thursday, reaching $231.28. The company had a trading volume of 61,074 shares, compared to its average volume of 471,457. IDEX has a 1-year low of $189.51 and a 1-year high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The firm has a 50 day simple moving average of $210.90 and a 200-day simple moving average of $207.59. The stock has a market cap of $17.51 billion, a PE ratio of 35.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96.

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. The business had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 EPS. Research analysts forecast that IDEX will post 7.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IEX shares. Oppenheimer cut their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Stifel Nicolaus upped their price objective on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen dropped their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, DA Davidson cut their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $241.14.

About IDEX

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.