Swedbank AB Raises Position in IDEX Corporation $IEX

Key Points

• Swedbank AB has increased its stake in IDEX Corporation by 16.2%, owning a total of 55,396 shares valued at $10,025,000 as of its latest SEC filing.
• Analysts have provided mixed ratings on IDEX, with a consensus target price of $201.71 and five analysts recommending a "Buy" rating while one suggests holding.
• IDEX recently reported a quarterly EPS of $2.07, exceeding expectations, along with a year-over-year revenue increase of 7.2%.

Swedbank AB raised its stake in IDEX Corporation (NYSE:IEX - Free Report) by 16.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,396 shares of the industrial products company's stock after acquiring an additional 7,726 shares during the period. Swedbank AB owned about 0.07% of IDEX worth $10,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake in IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after purchasing an additional 64 shares in the last quarter. UMB Bank n.a. lifted its stake in IDEX by 63.5% in the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock valued at $41,000 after buying an additional 87 shares during the period. SVB Wealth LLC acquired a new position in IDEX in the first quarter valued at about $56,000. Federated Hermes Inc. increased its holdings in shares of IDEX by 42.9% in the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock worth $60,000 after acquiring an additional 100 shares in the last quarter. Finally, Orion Capital Management LLC bought a new stake in shares of IDEX in the fourth quarter worth about $86,000. Institutional investors and hedge funds own 97.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Royal Bank Of Canada decreased their price objective on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Stifel Nicolaus cut their price objective on IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Oppenheimer dropped their price target on 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 price target on IDEX and gave the stock a "neutral" rating in a report on Monday, August 4th. Finally, Citigroup lifted their price target on IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $201.71.

IDEX Stock Down 0.6%

IDEX stock traded down $0.96 during midday trading on Friday, reaching $161.10. The stock had a trading volume of 1,828,327 shares, compared to its average volume of 666,938. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The company has a market capitalization of $12.13 billion, a P/E ratio of 26.03, a PEG ratio of 1.71 and a beta of 1.02. The company has a fifty day moving average price of $167.84 and a two-hundred day moving average price of $174.98. 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 issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. The firm had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.06 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, October 10th. This represents a $2.84 annualized dividend and a dividend yield of 1.8%. IDEX's dividend payout ratio is currently 45.88%.

IDEX announced that its Board of Directors has initiated a share buyback program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 8.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

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.