Bank of America Corp DE boosted its stake in IDEX Corporation (NYSE:IEX - Free Report) by 215.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,094,101 shares of the industrial products company's stock after buying an additional 746,732 shares during the quarter. Bank of America Corp DE owned approximately 1.48% of IDEX worth $207,387,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Deprince Race & Zollo Inc. raised its position in shares of IDEX by 4.3% in the fourth quarter. Deprince Race & Zollo Inc. now owns 359,152 shares of the industrial products company's stock valued at $63,908,000 after buying an additional 14,952 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in IDEX by 4.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 160,520 shares of the industrial products company's stock valued at $28,743,000 after acquiring an additional 6,901 shares in the last quarter. Baader Bank Aktiengesellschaft grew its stake in IDEX by 27.5% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 27,809 shares of the industrial products company's stock valued at $4,948,000 after acquiring an additional 6,000 shares in the last quarter. RNC Capital Management LLC raised its holdings in IDEX by 227.3% in the 4th quarter. RNC Capital Management LLC now owns 19,807 shares of the industrial products company's stock valued at $3,524,000 after acquiring an additional 13,755 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in IDEX by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,034,942 shares of the industrial products company's stock worth $360,740,000 after purchasing an additional 7,844 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently issued reports on IEX. TD Cowen upped their price target on IDEX from $260.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Oppenheimer reiterated an "outperform" rating and set a $265.00 price objective on shares of IDEX in a research report on Thursday, July 30th. Weiss Ratings upgraded IDEX from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 30th. Citigroup raised their target price on IDEX from $252.00 to $269.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price target on shares of IDEX from $257.00 to $268.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, IDEX currently has a consensus rating of "Moderate Buy" and an average target price of $251.44.
Check Out Our Latest Analysis on IEX
Insider Buying and Selling
In related news, CEO Eric D. Ashleman sold 15,385 shares of the firm'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 completion of the transaction, the chief executive officer directly owned 66,658 shares in the company, valued at $14,346,134.76. This trade represents a 18.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by company insiders.
IDEX Stock Performance
Shares of IEX stock opened at $237.86 on Wednesday. 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 market cap of $17.53 billion, a P/E ratio of 34.22, a P/E/G ratio of 2.19 and a beta of 0.98. The firm's 50 day moving average price is $222.27 and its 200-day moving average price is $209.36. IDEX Corporation has a one year low of $157.25 and a one year high of $243.80.
IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.21. IDEX had a net margin of 14.49% and a return on equity of 15.69%. The firm had revenue of $920.60 million during the quarter, compared to the consensus estimate of $905.38 million. During the same quarter last year, the firm 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. As a group, equities research analysts predict that IDEX Corporation will post 8.85 EPS for the current year.
IDEX Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 6th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $2.92 annualized dividend and a yield of 1.2%. IDEX's dividend payout ratio is presently 42.01%.
IDEX Profile
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Free Report)
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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