Alecta Tjanstepension Omsesidigt Has $121.13 Million Stake in IDEX Corporation $IEX

Key Points

• Alecta Tjanstepension Omsesidigt sold 110,100 shares of IDEX Corporation, reducing its position by 13.8% and owning 0.91% of the company valued at $121.1 million.
• Several institutional investors, such as Wellington Management Group and Millennium Management LLC, have significantly increased their holdings in IDEX, contributing to institutional ownership of 97.96%.
• IDEX Corporation reported Q2 earnings that topped estimates, with a revenue of $865.4 million and an EPS of $2.07, while analysts forecast a consensus EPS of 8.26 for the fiscal year.

Alecta Tjanstepension Omsesidigt lessened its stake in shares of IDEX Corporation (NYSE:IEX - Free Report) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 689,900 shares of the industrial products company's stock after selling 110,100 shares during the quarter. Alecta Tjanstepension Omsesidigt owned 0.91% of IDEX worth $121,126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Horizon Investments LLC grew its stake in shares of IDEX by 5.2% during the first quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company's stock worth $197,000 after purchasing an additional 54 shares during the period. Empowered Funds LLC grew its stake in shares of IDEX by 3.4% during the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company's stock worth $298,000 after purchasing an additional 54 shares during the period. Alps Advisors Inc. grew its stake in shares of IDEX by 1.0% during the first quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock worth $1,084,000 after purchasing an additional 60 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of IDEX by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock worth $1,031,000 after purchasing an additional 61 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in IDEX by 0.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock valued at $1,508,000 after acquiring an additional 61 shares during the period. Institutional investors own 97.96% of the company's stock.

IDEX Stock Performance

NYSE IEX traded down $0.96 during trading on Friday, reaching $161.10. 1,828,327 shares of the company's stock were exchanged, compared to its average volume of 666,938. The business has a 50 day moving average price of $167.84 and a 200-day moving average price of $174.89. The stock has a market capitalization of $12.13 billion, a P/E ratio of 26.03, a PEG ratio of 1.70 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. The firm had revenue of $865.40 million for the quarter, compared to the consensus estimate of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.06 earnings per share. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. Sell-side analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX declared that its board has approved a stock repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. IDEX's payout ratio is 45.88%.

Analyst Upgrades and Downgrades

IEX has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their target price on IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Oppenheimer decreased their target price on IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Citigroup boosted their target price on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada decreased their target price on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, DA Davidson set a $180.00 target price on IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $201.71.

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.