Bank of New York Mellon Corp Buys Shares of 350,026 IDEX Corporation $IEX

Key Points

• Bank of New York Mellon acquired 350,026 IDEX shares worth approximately $79.4 million in the second quarter, while institutional investors overall own 97.96% of the company.
• IDEX reported quarterly earnings of $2.32 per share, exceeding estimates by $0.21, with revenue rising 6.4% year over year to $920.6 million. The company maintained fiscal 2026 EPS guidance of $8.70–$8.85.
• Analysts remain broadly optimistic, with eight Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $260.80, versus the stock’s recent $230.16 price.

Bank of New York Mellon Corp purchased a new position in shares of IDEX Corporation (NYSE:IEX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 350,026 shares of the industrial products company's stock, valued at approximately $79,438,000. Bank of New York Mellon Corp owned approximately 0.47% of IDEX as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IEX. Primecap Management Co. CA boosted its stake in shares of IDEX by 86.5% in 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 during the period. Dodge & Cox increased its stake in shares of IDEX by 266.7% during the fourth quarter. Dodge & Cox now owns 1,262,550 shares of the industrial products company's stock worth $224,658,000 after buying an additional 918,208 shares during the period. Norges Bank acquired a new stake in IDEX in the fourth quarter valued at approximately $162,788,000. Millennium Management LLC raised its holdings in IDEX by 293.6% in the fourth quarter. Millennium Management LLC now owns 1,063,763 shares of the industrial products company's stock valued at $189,286,000 after acquiring an additional 793,530 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in IDEX by 215.0% in the first quarter. Bank of America Corp DE now owns 1,094,101 shares of the industrial products company's stock worth $207,387,000 after acquiring an additional 746,732 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Trading Down 1.5%

Shares of IEX opened at $230.16 on Wednesday. The stock has a market cap of $16.97 billion, a PE ratio of 33.12, a P/E/G ratio of 2.21 and a beta of 0.98. The stock's 50-day moving average is $228.24 and its two-hundred day moving average is $213.32. IDEX Corporation has a 12 month low of $158.19 and a 12 month high of $243.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.15.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.11 by $0.21. The business had revenue of $920.60 million for the quarter, compared to analysts' expectations of $905.38 million. IDEX had a net margin of 14.49% and a return on equity of 15.69%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company 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. Equities analysts forecast that IDEX Corporation will post 8.82 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 6th were issued a $0.73 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $2.92 annualized dividend and a yield of 1.3%. IDEX's dividend payout ratio is currently 42.01%.

Insiders Place Their Bets

In other news, CAO Lisa M. Anderson sold 385 shares of IDEX stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $238.59, for a total value of $91,857.15. Following the completion of the transaction, the chief accounting officer owned 4,327 shares in the company, valued at approximately $1,032,378.93. This trade represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on IEX shares. TD Cowen raised their price target on IDEX from $260.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Citigroup upped their price target on shares of IDEX from $252.00 to $269.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Robert W. Baird set a $257.00 price objective on IDEX in a research report on Thursday, April 30th. Royal Bank Of Canada raised their price target on IDEX from $261.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Finally, Mizuho upgraded IDEX from a "neutral" rating to an "outperform" rating and raised their price target for the company from $210.00 to $280.00 in a research report on Tuesday, August 11th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $260.80.

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.

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