Bank of America Corp DE Buys Shares of 355,083 IDEX Corporation $IEX

Key Points

• Bank of America acquired 355,083 IDEX shares worth approximately $80.6 million, representing about 0.48% of the company. Institutional investors collectively own 97.96% of IDEX.
• Analysts remain broadly bullish, with nine Buy ratings and two Holds, a “Moderate Buy” consensus, and an average price target of $260.27.
• IDEX exceeded quarterly expectations, reporting $2.32 in EPS and $920.6 million in revenue, while raising shareholder returns through a quarterly dividend of $0.73 per share.

Bank of America Corp DE bought a new stake in shares of IDEX Corporation (NYSE:IEX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 355,083 shares of the industrial products company's stock, valued at approximately $80,586,000. Bank of America Corp DE owned about 0.48% of IDEX as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Optiver Holding B.V. bought a new position in IDEX in the 1st quarter worth about $27,000. SJS Investment Consulting Inc. grew its position in IDEX by 104.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 149 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Quantbot Technologies LP bought a new stake in IDEX during the 2nd quarter valued at about $33,000. Root Financial Partners LLC increased its stake in IDEX by 57.6% during the 1st quarter. Root Financial Partners LLC now owns 208 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 76 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in IDEX by 140.5% in the fourth quarter. Clearstead Advisors LLC now owns 267 shares of the industrial products company's stock worth $48,000 after buying an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

Insider Activity

In other news, CAO Lisa Anderson sold 385 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $238.59, for a total transaction of $91,857.15. Following the sale, the chief accounting officer directly owned 4,327 shares in the company, valued at $1,032,378.93. This trade represents a 8.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IEX has been the topic of a number of recent analyst reports. Vertical Research started coverage on shares of IDEX in a report on Tuesday, September 8th. They set a "buy" rating and a $250.00 price target on the stock. Argus boosted their price objective on shares of IDEX from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Stifel Nicolaus upped their price objective on IDEX from $257.00 to $268.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Royal Bank Of Canada increased their target price on IDEX from $261.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Finally, Mizuho raised IDEX from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $210.00 to $280.00 in a report on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $260.27.

IDEX Stock Up 0.8%

IEX stock opened at $223.68 on Friday. IDEX Corporation has a fifty-two week low of $158.19 and a fifty-two week high of $243.80. The business's 50-day moving average is $228.71 and its two-hundred day moving average is $215.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.15 and a current ratio of 3.05. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 2.53 and a beta of 0.98.

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

IDEX Announces Dividend

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

IDEX Company Profile

IDEX Corporation NYSE: IEX is an industrial technology company that designs, manufactures and markets engineered products and systems used in a range of specialized applications. Its portfolio includes pumps, valves, flow meters, compressors, dispensing equipment and other fluid-handling technologies that help customers move, measure and control liquids and gases.

The company operates through businesses focused on Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety/Diversified Products.

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