Bank of New York Mellon Corp Sells 127,971 Shares of IDEX Corporation $IEX

Bank of New York Mellon Corp trimmed its position in IDEX Corporation (NYSE:IEX - Free Report) by 20.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 488,108 shares of the industrial products company's stock after selling 127,971 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of IDEX worth $86,854,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Empowered Funds LLC lifted its holdings in shares of IDEX by 3.4% in the 1st quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company's stock worth $298,000 after buying an additional 54 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of IDEX by 41.1% in the 4th quarter. Cromwell Holdings LLC now owns 199 shares of the industrial products company's stock worth $35,000 after buying an additional 58 shares during the period. Bessemer Group Inc. lifted its holdings in shares of IDEX by 16.6% in the 3rd quarter. Bessemer Group Inc. now owns 577 shares of the industrial products company's stock worth $94,000 after buying an additional 82 shares during the period. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of IDEX by 1.9% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 4,661 shares of the industrial products company's stock worth $829,000 after buying an additional 85 shares during the period. Finally, Sierra Legacy Group lifted its holdings in shares of IDEX by 1.7% in the 4th quarter. Sierra Legacy Group now owns 5,458 shares of the industrial products company's stock worth $971,000 after buying an additional 90 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at IDEX

In related news, CEO Eric D. Ashleman sold 15,385 shares of the company's stock in a transaction dated 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 directly owned 66,658 shares of the company's stock, valued at $14,346,134.76. This represents a 18.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IEX. Citigroup upped their target price on IDEX from $243.00 to $252.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Oppenheimer reiterated an "outperform" rating and issued a $250.00 target price (up from $242.00) on shares of IDEX in a report on Tuesday, June 2nd. Robert W. Baird set a $257.00 target price on IDEX in a report on Thursday, April 30th. Stifel Nicolaus set a $250.00 price objective on IDEX in a research note on Thursday, April 30th. Finally, BMO Capital Markets started coverage on IDEX in a research note on Friday, March 27th. They set a "market perform" rating and a $214.00 price objective for the company. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $241.11.

IDEX Trading Up 1.5%

Shares of NYSE IEX opened at $218.59 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.39 and a quick ratio of 2.40. The stock has a market capitalization of $16.18 billion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. IDEX Corporation has a 1-year low of $157.25 and a 1-year high of $223.85. The business has a fifty day moving average price of $206.07 and a 200 day moving average price of $195.95.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.22. IDEX had a return on equity of 15.29% and a net margin of 14.38%.The firm had revenue of $886.90 million during the quarter, compared to analysts' expectations of $845.58 million. During the same period in the prior year, the business posted $1.75 EPS. The firm'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. Equities research analysts expect that IDEX Corporation will post 8.49 EPS for the current fiscal year.

IDEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.92 annualized dividend and a yield of 1.3%. This is an increase from IDEX's previous quarterly dividend of $0.71. IDEX's dividend payout ratio is currently 43.20%.

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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