Baird Financial Group Inc. Decreases Holdings in IDEX Corporation $IEX

Key Points

• Baird Financial Group Inc. has significantly reduced its stake in IDEX Corporation by 98.8%, now holding just 2,999 shares, valued at $543,000.
• IDEX Corporation reported a net revenue increase of 7.2% and earnings per share of $2.07 for the last quarter, exceeding analyst expectations.
• The company declared a quarterly dividend of $0.71 per share, with an annualized yield of 1.8% as of July 25th.

Baird Financial Group Inc. decreased its position in shares of IDEX Corporation (NYSE:IEX - Free Report) by 98.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,999 shares of the industrial products company's stock after selling 253,250 shares during the period. Baird Financial Group Inc.'s holdings in IDEX were worth $543,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after buying an additional 64 shares during the period. UMB Bank n.a. raised its holdings in IDEX by 63.5% in the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock worth $41,000 after buying an additional 87 shares during the last quarter. SVB Wealth LLC bought a new position in IDEX in the 1st quarter valued at approximately $56,000. Federated Hermes Inc. boosted its holdings in shares of IDEX by 42.9% during the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock valued at $60,000 after acquiring an additional 100 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of IDEX by 970.7% during the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock valued at $79,000 after purchasing an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on IEX shares. Citigroup lifted their target price on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. DA Davidson set a $180.00 target price on IDEX and gave the stock a "neutral" rating in a research report on Monday, August 4th. Stifel Nicolaus lowered their price objective on shares of IDEX from $238.00 to $204.00 and set a "buy" rating on the stock 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 report on Thursday, July 31st. Finally, Oppenheimer cut their price objective on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $201.71.

IDEX Price Performance

IEX traded up $2.70 on Tuesday, hitting $163.86. 747,650 shares of the company's stock traded hands, compared to its average volume of 657,675. The company's 50 day simple moving average is $169.21 and its 200-day simple moving average is $175.44. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46. IDEX Corporation has a one year low of $153.36 and a one year high of $238.22. The firm has a market cap of $12.34 billion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 1.70 and a beta of 1.02.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.07. The business had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The company's revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $2.06 EPS. 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, research analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. IDEX's dividend payout ratio is presently 45.88%.

About IDEX

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.