IDEX Corporation $IEX Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC has reduced its stake in IDEX Corporation by 2.2%, now owning 196,900 shares worth approximately $35.63 million.
• IDEX Corporation reported a quarterly earnings surprise, with earnings per share of $2.07, beating estimates by $0.07 and showing a 7.2% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.71 per share with an annualized yield of 1.7%, maintaining a dividend payout ratio of 45.88%.

Gabelli Funds LLC lowered its holdings in shares of IDEX Corporation (NYSE:IEX - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,900 shares of the industrial products company's stock after selling 4,400 shares during the period. Gabelli Funds LLC owned 0.26% of IDEX worth $35,633,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Findlay Park Partners LLP increased its holdings in shares of IDEX by 66.0% in the 1st quarter. Findlay Park Partners LLP now owns 469,299 shares of the industrial products company's stock valued at $84,929,000 after purchasing an additional 186,599 shares in the last quarter. FORA Capital LLC purchased a new position in shares of IDEX in the 1st quarter valued at about $2,067,000. Comerica Bank increased its holdings in shares of IDEX by 28.0% in the 1st quarter. Comerica Bank now owns 135,941 shares of the industrial products company's stock valued at $24,601,000 after purchasing an additional 29,702 shares in the last quarter. Walleye Capital LLC increased its holdings in shares of IDEX by 177.4% in the 1st quarter. Walleye Capital LLC now owns 1,641 shares of the industrial products company's stock valued at $297,000 after purchasing an additional 3,760 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its holdings in shares of IDEX by 496.1% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 14,432 shares of the industrial products company's stock valued at $2,612,000 after purchasing an additional 12,011 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Trading Down 0.5%

Shares of IDEX stock traded down $0.79 during mid-day trading on Friday, hitting $164.43. 445,723 shares of the stock were exchanged, compared to its average volume of 782,680. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $238.22. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The company has a 50-day simple moving average of $172.91 and a 200 day simple moving average of $178.16. 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 (NYSE:IEX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.07. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The company had revenue of $865.40 million for the quarter, compared to analysts' expectations of $858.59 million. During the same period last year, the company earned $2.06 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. Research analysts forecast that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. IDEX's dividend payout ratio (DPR) is currently 45.88%.

Insider Activity

In related news, CFO Akhil Mahendra sold 250 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the sale, the chief financial officer directly owned 5,035 shares of the company's stock, valued at approximately $910,781.15. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IEX shares. Mizuho set a $185.00 target price on shares of IDEX in a report on Friday, May 16th. Stifel Nicolaus dropped their target price on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Oppenheimer dropped their target price on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. DA Davidson set a $180.00 target price on shares of IDEX and gave the company a "neutral" rating in a report on Monday, August 4th. Finally, Royal Bank Of Canada dropped 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. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, IDEX has an average rating of "Moderate Buy" and a consensus target price of $201.71.

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.