Gabelli Funds LLC Has $32.23 Million Stock Position in IDEX Corporation $IEX

Key Points

• Gabelli Funds LLC trimmed its IDEX position by 5.1% in the fourth quarter, selling 9,800 shares and leaving it with 181,100 shares worth about $32.2 million.
• IDEX reported stronger-than-expected quarterly results, posting earnings of $2.00 per share versus estimates of $1.78 and revenue of $886.9 million, up 8.9% year over year.
• The company raised its dividend and drew bullish analyst views, boosting the quarterly payout to $0.73 per share while Wall Street now sees a consensus Moderate Buy rating with a $240.22 target price.

Gabelli Funds LLC decreased its position in IDEX Corporation (NYSE:IEX - Free Report) by 5.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 181,100 shares of the industrial products company's stock after selling 9,800 shares during the period. Gabelli Funds LLC owned approximately 0.24% of IDEX worth $32,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. North Dakota State Investment Board acquired a new position in shares of IDEX in the 4th quarter valued at $463,000. Canada Post Corp Registered Pension Plan grew its holdings in shares of IDEX by 32.0% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 1,650 shares of the industrial products company's stock valued at $294,000 after buying an additional 400 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in shares of IDEX in the 4th quarter valued at $691,000. New York Life Investment Management LLC grew its holdings in shares of IDEX by 67.5% in the 4th quarter. New York Life Investment Management LLC now owns 17,305 shares of the industrial products company's stock valued at $3,079,000 after buying an additional 6,971 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its holdings in shares of IDEX by 27.5% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 27,809 shares of the industrial products company's stock valued at $4,948,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds own 97.96% of the company's stock.

Insider Activity at IDEX

In other news, CEO Eric D. Ashleman sold 15,385 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $215.22, for a total transaction of $3,311,159.70. Following the completion of the transaction, the chief executive officer directly owned 66,658 shares in the company, valued at $14,346,134.76. This represents a 18.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

IDEX Price Performance

Shares of NYSE IEX opened at $208.61 on Tuesday. The firm has a market cap of $15.44 billion, a PE ratio of 30.86, a PEG ratio of 2.04 and a beta of 1.02. The company has a current ratio of 3.39, a quick ratio of 2.40 and a debt-to-equity ratio of 0.46. IDEX Corporation has a 1-year low of $157.25 and a 1-year high of $223.85. The company has a fifty day moving average price of $200.06 and a 200 day moving average price of $191.39.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results 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. The firm had revenue of $886.90 million during the quarter, compared to analyst estimates of $845.58 million. IDEX had a net margin of 14.38% and a return on equity of 15.29%. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.75 EPS. IDEX has set its Q2 2026 guidance at 2.070-2.120 EPS and its FY 2026 guidance at 8.350-8.550 EPS. Research analysts predict that IDEX Corporation will post 8.5 earnings per share for the current fiscal year.

IDEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.73 per share. The ex-dividend date is Friday, May 22nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from IDEX's previous quarterly dividend of $0.71. IDEX's dividend payout ratio (DPR) is currently 42.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IEX shares. Royal Bank Of Canada upped their target price on shares of IDEX from $225.00 to $252.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $250.00 target price on shares of IDEX in a research note on Thursday, April 30th. TD Cowen upped their target price on shares of IDEX from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. DA Davidson upped their target price on shares of IDEX from $180.00 to $195.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. Finally, BMO Capital Markets started coverage on shares of IDEX in a research note on Friday, March 27th. They issued a "market perform" rating and a $214.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, IDEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $240.22.

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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