Assenagon Asset Management S.A. Sells 21,170 Shares of IDEX Corporation $IEX

Key Points

• Assenagon Asset Management cut its IDEX stake by 87.2% in the third quarter, selling 21,170 shares and retaining 3,111 shares valued at approximately $709,000. Institutional investors collectively own 97.96% of IDEX.
• Analysts remain generally positive, with nine Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $261.09.
• IDEX exceeded quarterly earnings expectations, reporting $2.32 in EPS versus the $2.11 consensus and revenue of $920.6 million. The company also paid a quarterly dividend of $0.73 per share, representing a 1.3% annualized yield.

Assenagon Asset Management S.A. cut its stake in shares of IDEX Corporation (NYSE:IEX - Free Report) by 87.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,111 shares of the industrial products company's stock after selling 21,170 shares during the period. Assenagon Asset Management S.A.'s holdings in IDEX were worth $709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IEX. Elevation Wealth Partners LLC increased its stake in shares of IDEX by 42.7% in the 3rd quarter. Elevation Wealth Partners LLC now owns 147 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 44 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of IDEX by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,446 shares of the industrial products company's stock valued at $274,000 after acquiring an additional 56 shares during the period. Evolve Private Wealth LLC boosted its stake in IDEX by 2.8% during the 1st quarter. Evolve Private Wealth LLC now owns 2,125 shares of the industrial products company's stock worth $403,000 after acquiring an additional 58 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in IDEX by 2.6% during the 1st quarter. Sanctuary Advisors LLC now owns 2,443 shares of the industrial products company's stock worth $463,000 after acquiring an additional 62 shares during the last quarter. Finally, Allworth Financial LP increased its stake in IDEX by 9.4% in the second quarter. Allworth Financial LP now owns 722 shares of the industrial products company's stock valued at $164,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 97.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of IDEX from $280.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday, October 14th. TD Cowen boosted their target price on IDEX from $260.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. KeyCorp raised IDEX to a "hold" rating in a research note on Monday, October 12th. Citigroup increased their price target on IDEX from $252.00 to $269.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Argus raised their price target on IDEX from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $261.09.

IDEX Price Performance

Shares of IEX opened at $226.76 on Friday. The company has a market cap of $16.72 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.67 and a beta of 0.97. IDEX Corporation has a 1-year low of $160.60 and a 1-year high of $243.80. The company's fifty day simple moving average is $230.12 and its 200 day simple moving average is $222.02. The company has a current ratio of 3.05, a quick ratio of 2.15 and a debt-to-equity ratio of 0.46.

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

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were paid a dividend of $0.73 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.92 annualized dividend and a dividend yield of 1.3%. IDEX's payout ratio is currently 42.01%.

Insider Activity

In other 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 sale, the chief accounting officer directly owned 4,327 shares of the company's stock, valued at approximately $1,032,378.93. This represents a 8.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company's stock.

About IDEX

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.