Adams Diversified Equity Fund Inc. Acquires 9,600 Shares of IDEX Corporation $IEX

Key Points

• Adams Diversified Equity Fund increased its IDEX stake by 9.6%, acquiring 9,600 shares to hold 109,600 shares valued at approximately $25 million. Institutional investors collectively own 97.96% of IDEX.
• Analysts remain broadly positive, with nine Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $261.09.
• IDEX exceeded quarterly expectations, reporting $2.32 in EPS and $920.6 million in revenue, while revenue grew 6.4% year over year. The company also maintains a quarterly dividend of $0.73 per share, yielding about 1.3% annually.

Adams Diversified Equity Fund Inc. boosted its stake in IDEX Corporation (NYSE:IEX - Free Report) by 9.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 109,600 shares of the industrial products company's stock after acquiring an additional 9,600 shares during the quarter. Adams Diversified Equity Fund Inc. owned 0.15% of IDEX worth $24,987,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of IDEX during the 2nd quarter worth about $1,301,393,000. Primecap Management Co. CA purchased a new position in IDEX in the 2nd quarter valued at about $748,951,000. Amundi lifted its stake in IDEX by 19.6% in the 2nd quarter. Amundi now owns 1,458,979 shares of the industrial products company's stock valued at $331,017,000 after buying an additional 239,579 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in IDEX by 101.4% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,042,703 shares of the industrial products company's stock valued at $236,641,000 after buying an additional 525,048 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in IDEX by 215.0% in the 1st quarter. Bank of America Corp DE now owns 1,094,101 shares of the industrial products company's stock worth $207,387,000 after buying an additional 746,732 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

Wall Street Analyst Weigh In

IEX has been the subject of several research reports. Royal Bank Of Canada boosted their price objective on IDEX from $280.00 to $285.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 14th. Argus increased their target price on IDEX from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Weiss Ratings upgraded IDEX from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. Stifel Nicolaus set a $267.00 price target on IDEX in a research note on Monday. Finally, TD Cowen lifted their price target on IDEX from $260.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $261.09.

Insider Buying and Selling

In other IDEX news, CAO Lisa Anderson sold 385 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $238.59, for a total value of $91,857.15. Following the transaction, the chief accounting officer owned 4,327 shares of the company's stock, valued at $1,032,378.93. This represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is owned by insiders.

IDEX Trading Down 3.7%

IEX opened at $226.76 on Friday. IDEX Corporation has a one year low of $160.60 and a one year high of $243.80. The stock has a market capitalization of $16.72 billion, a PE ratio of 32.63, a P/E/G ratio of 2.67 and a beta of 0.97. The business's 50 day moving average price is $230.12 and its 200 day moving average price is $222.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.15 and a current ratio of 3.05.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.21. IDEX had a return on equity of 15.69% and a net margin of 14.49%. The company had revenue of $920.60 million during the quarter, compared to analyst estimates of $905.38 million. During the same period in the prior year, the business posted $2.07 earnings per share. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. IDEX has set its FY 2026 guidance at 8.700-8.850 EPS and its Q3 2026 guidance at 2.200-2.250 EPS. As a group, equities research analysts expect that IDEX Corporation will post 8.83 EPS for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 1.3%. IDEX's dividend payout ratio is presently 42.01%.

IDEX Company Profile

IDEX Corporation is an industrial manufacturing company headquartered in Lake Forest, Illinois. The company designs and produces engineered products and technologies used to move, control, measure and apply fluids, as well as equipment used in fire and safety applications.

IDEX operates through businesses serving fluid and metering technologies, health and science technologies, and fire and safety markets. Its products include pumps, valves, flow meters, compressors, dispensing equipment, precision fluidics components and systems, fire pumps, rescue tools and other specialized equipment.

The company serves a broad range of industries, including healthcare, life sciences, water and wastewater, chemical processing, energy, food and beverage, agriculture, industrial manufacturing and municipal fire protection.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.