Arrowstreet Capital Limited Partnership Boosts Holdings in IDEX Corporation $IEX

Key Points

• Arrowstreet Capital boosted its IDEX stake by 51.1% in the first quarter, adding 236,526 shares and bringing its total to 699,788 shares worth about $132.6 million.
• IDEX reported strong quarterly results, with EPS of $2.00 beating estimates by $0.22 and revenue of $886.9 million topping expectations; revenue rose 8.9% year over year.
• Analysts remain constructive on the stock, with several firms raising price targets and MarketBeat showing a consensus rating of “Moderate Buy” and an average target price of $244.

Arrowstreet Capital Limited Partnership raised its holdings in shares of IDEX Corporation (NYSE:IEX - Free Report) by 51.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 699,788 shares of the industrial products company's stock after acquiring an additional 236,526 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.95% of IDEX worth $132,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of IEX. Primecap Management Co. CA lifted its stake in shares of IDEX by 86.5% during the 4th quarter. Primecap Management Co. CA now owns 3,226,787 shares of the industrial products company's stock valued at $574,174,000 after buying an additional 1,496,207 shares in the last quarter. State Street Corp grew its holdings in IDEX by 0.6% during the 4th quarter. State Street Corp now owns 3,172,410 shares of the industrial products company's stock valued at $564,499,000 after buying an additional 17,668 shares in the last quarter. Geode Capital Management LLC increased its holdings in IDEX by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,034,942 shares of the industrial products company's stock valued at $360,740,000 after acquiring an additional 7,844 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of IDEX by 3.3% in the fourth quarter. Van ECK Associates Corp now owns 1,976,856 shares of the industrial products company's stock worth $351,762,000 after purchasing an additional 63,699 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of IDEX by 16.1% in the third quarter. Invesco Ltd. now owns 1,809,788 shares of the industrial products company's stock worth $294,561,000 after buying an additional 250,447 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Price Performance

Shares of IEX stock opened at $223.13 on Friday. The stock's 50-day simple moving average is $219.14 and its 200-day simple moving average is $206.95. The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.19 and a beta of 0.98. IDEX Corporation has a fifty-two week low of $157.25 and a fifty-two week high of $231.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.40 and a current ratio of 3.39.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.22. IDEX had a net margin of 14.38% and a return on equity of 15.29%. The company had revenue of $886.90 million for the quarter, compared to the consensus estimate of $845.58 million. During the same quarter in the prior year, the company earned $1.75 EPS. IDEX's quarterly revenue was up 8.9% on a year-over-year basis. IDEX has set its Q2 2026 guidance at 2.070-2.120 EPS and its FY 2026 guidance at 8.350-8.550 EPS. As a group, equities analysts forecast that IDEX Corporation will post 8.48 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, July 6th were given a $0.73 dividend. The ex-dividend date was Monday, July 6th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.3%. IDEX's payout ratio is 43.20%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IEX shares. Oppenheimer boosted their price target on shares of IDEX from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 21st. Stifel Nicolaus upped their price target on shares of IDEX from $250.00 to $257.00 and gave the company a "buy" rating in a report on Monday, July 20th. Citigroup lifted their target price on IDEX from $243.00 to $252.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Seaport Research Partners restated a "buy" rating and issued a $250.00 price target on shares of IDEX in a report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of IDEX from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, IDEX has a consensus rating of "Moderate Buy" and an average price target of $244.00.

Insider Buying and Selling at IDEX

In other news, CEO Eric D. Ashleman sold 15,385 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $215.22, for a total transaction of $3,311,159.70. Following the transaction, the chief executive officer owned 66,658 shares in the company, valued at $14,346,134.76. This trade represents a 18.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.

About IDEX

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company's core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.

Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Corporation (NYSE:IEX - Free Report).

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.