Glenview Trust Co Acquires Shares of 6,970 IDEX Corporation $IEX

Key Points

• Glenview Trust Co. acquired 6,970 shares of IDEX in the second quarter, worth approximately $1.58 million. Institutional investors collectively own 97.96% of the company.
• Analysts maintain a favorable outlook, with eight Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $260.80.
• IDEX exceeded quarterly expectations, reporting $2.32 in earnings per share and $920.6 million in revenue, while revenue rose 6.4% year over year. The company also declared a quarterly dividend of $0.73 per share.

Glenview Trust Co bought a new position in shares of IDEX Corporation (NYSE:IEX - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,970 shares of the industrial products company's stock, valued at approximately $1,582,000.

A number of other hedge funds also recently bought and sold shares of the business. Empowered Funds LLC raised its position in IDEX by 3.4% during the 1st quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of IDEX by 4.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,446 shares of the industrial products company's stock valued at $274,000 after buying an additional 56 shares during the period. Evolve Private Wealth LLC raised its holdings in shares of IDEX by 2.8% during the first quarter. Evolve Private Wealth LLC now owns 2,125 shares of the industrial products company's stock valued at $403,000 after acquiring an additional 58 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in IDEX by 2.6% in the first quarter. Sanctuary Advisors LLC now owns 2,443 shares of the industrial products company's stock valued at $463,000 after acquiring an additional 62 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in IDEX by 2.8% during the 4th quarter. Mackenzie Financial Corp now owns 2,562 shares of the industrial products company's stock valued at $458,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on IEX. DA Davidson raised their target price on shares of IDEX from $230.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Citigroup raised their price objective on shares of IDEX from $252.00 to $269.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Seaport Research Partners reiterated a "buy" rating and set a $250.00 target price on shares of IDEX in a report on Tuesday, May 5th. Royal Bank Of Canada raised 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, Argus increased their price objective on IDEX from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, IDEX presently has a consensus rating of "Moderate Buy" and a consensus target price of $260.80.

IDEX Price Performance

IEX stock opened at $230.44 on Friday. 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 firm has a 50 day moving average price of $228.73 and a 200-day moving average price of $213.75. IDEX Corporation has a 52-week low of $158.19 and a 52-week high of $243.80. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.21 and a beta of 0.98.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.11 by $0.21. IDEX had a return on equity of 15.69% and a net margin of 14.49%.The company had revenue of $920.60 million during the quarter, compared to analyst estimates of $905.38 million. During the same quarter last year, the company earned $2.07 EPS. The firm's revenue for the quarter 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. Equities research analysts forecast that IDEX Corporation will post 8.82 EPS for the current fiscal year.

IDEX Announces Dividend

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

Insider Transactions at IDEX

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

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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