IDEX Corporation $IEX Shares Sold by Alecta Tjanstepension Omsesidigt

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 trimmed its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 13.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in IDEX by 257.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in IDEX by 81.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after acquiring an additional 64 shares during the period. UMB Bank n.a. increased its holdings in IDEX by 63.5% in the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock valued at $41,000 after buying an additional 87 shares during the period. SVB Wealth LLC acquired a new stake in shares of IDEX in the 1st quarter valued at approximately $56,000. Finally, Federated Hermes Inc. boosted its position in IDEX by 42.9% during the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock worth $60,000 after buying an additional 100 shares during the period. Institutional investors own 97.96% of the company's stock.

IDEX Trading Down 0.6%

NYSE:IEX traded down $0.96 during midday trading on Friday, hitting $161.10. The stock had a trading volume of 1,828,327 shares, compared to its average volume of 666,938. IDEX Corporation has a one year low of $153.36 and a one year high of $238.22. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $12.13 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.70 and a beta of 1.02. The stock has a 50-day moving average of $167.84 and a 200 day moving average of $174.89.

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 the consensus estimate of $2.00 by $0.07. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The firm had revenue of $865.40 million during the quarter, compared to analysts' expectations of $858.59 million. During the same quarter in the prior year, the company earned $2.06 EPS. The company's revenue was up 7.2% compared to the same quarter last year. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. As a group, sell-side analysts forecast that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

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

IDEX declared that its board has approved a stock repurchase program on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

IDEX 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.