Comerica Bank Acquires 29,702 Shares of IDEX Corporation $IEX

Key Points

• Comerica Bank boosted its holdings in IDEX Corporation by 28.0% during the 1st quarter, owning approximately 0.18% of the company valued at $24.6 million.
• IDEX's recent quarterly earnings report exceeded analyst estimates, with earnings per share of $2.07, and revenues reaching $865.4 million, a year-over-year increase of 7.2%.
• The company declared a quarterly dividend of $0.71 per share, contributing to an annualized dividend of $2.84 and a yield of 1.7%.

Comerica Bank lifted its position in IDEX Corporation (NYSE:IEX - Free Report) by 28.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 135,941 shares of the industrial products company's stock after purchasing an additional 29,702 shares during the quarter. Comerica Bank owned about 0.18% of IDEX worth $24,601,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IEX. Wellington Management Group LLP increased its stake in IDEX by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company's stock worth $914,007,000 after acquiring an additional 831,005 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of IDEX by 11.5% in the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock worth $363,157,000 after purchasing an additional 207,172 shares during the last quarter. Invesco Ltd. raised its stake in IDEX by 15.4% in the first quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company's stock valued at $279,682,000 after purchasing an additional 206,633 shares in the last quarter. Fenimore Asset Management Inc lifted its position in IDEX by 2.0% during the first quarter. Fenimore Asset Management Inc now owns 855,951 shares of the industrial products company's stock valued at $154,901,000 after purchasing an additional 16,444 shares during the last quarter. Finally, Northern Trust Corp grew its stake in IDEX by 17.8% in the 4th quarter. Northern Trust Corp now owns 793,622 shares of the industrial products company's stock worth $166,097,000 after buying an additional 120,022 shares in the last quarter. Institutional investors own 97.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Mizuho set a $185.00 price target on IDEX in a research report on Friday, May 16th. Oppenheimer dropped their price target on IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. DA Davidson set a $180.00 price objective on IDEX and gave the stock a "neutral" rating in a report on Monday, August 4th. Finally, Robert W. Baird set a $215.00 price objective on IDEX in a research report on Friday, May 2nd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $201.71.

Insider Buying and Selling at IDEX

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

IDEX Trading Down 0.5%

Shares of IDEX stock traded down $0.89 during midday trading on Thursday, reaching $165.19. 584,172 shares of the company's stock traded hands, compared to its average volume of 827,713. The company has a market cap of $12.44 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.75 and a beta of 1.04. The stock has a 50 day moving average of $173.28 and a 200-day moving average of $178.69. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 3.05.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.07. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The business had revenue of $865.40 million for the quarter, compared to the consensus estimate of $858.59 million. During the same period in the previous year, the firm earned $2.06 EPS. The company's quarterly revenue 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. As a group, equities analysts expect that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's payout ratio is presently 45.88%.

IDEX Profile

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.