IDEX Corporation $IEX Shares Sold by King Luther Capital Management Corp

Key Points

• King Luther Capital Management cut its IDEX position by 22.3% in the fourth quarter, selling 53,065 shares and leaving it with 184,992 shares worth about $32.9 million.
• IDEX beat earnings expectations in its latest quarter, reporting $2.00 EPS versus $1.78 expected, with revenue of $886.9 million and year-over-year revenue growth of 8.9%.
• The company raised its quarterly dividend to $0.73 per share from $0.71, while analysts remain generally constructive with a Moderate Buy rating and an average price target of $240.22.

King Luther Capital Management Corp trimmed its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 22.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 184,992 shares of the industrial products company's stock after selling 53,065 shares during the quarter. King Luther Capital Management Corp owned 0.25% of IDEX worth $32,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Empowered Funds LLC lifted its holdings in shares of IDEX by 3.4% during the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company's stock valued at $298,000 after acquiring an additional 54 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of IDEX by 41.1% during the fourth quarter. Cromwell Holdings LLC now owns 199 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 58 shares during the period. UMB Bank n.a. lifted its holdings in shares of IDEX by 61.0% during the third quarter. UMB Bank n.a. now owns 198 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 75 shares during the period. Bessemer Group Inc. lifted its holdings in shares of IDEX by 16.6% during the third quarter. Bessemer Group Inc. now owns 577 shares of the industrial products company's stock valued at $94,000 after acquiring an additional 82 shares during the period. Finally, Bartlett & CO. Wealth Management LLC lifted its holdings in shares of IDEX by 1.9% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 4,661 shares of the industrial products company's stock valued at $829,000 after acquiring an additional 85 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Performance

Shares of NYSE:IEX opened at $211.51 on Wednesday. IDEX Corporation has a twelve month low of $157.25 and a twelve month high of $223.85. The firm has a market cap of $15.65 billion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 2.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.40 and a current ratio of 3.39. The business has a fifty day moving average of $201.78 and a 200-day moving average of $192.99.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.22. The company had revenue of $886.90 million during the quarter, compared to analyst estimates of $845.58 million. IDEX had a return on equity of 15.29% and a net margin of 14.38%.The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $1.75 earnings per share. IDEX has set its Q2 2026 guidance at 2.070-2.120 EPS and its FY 2026 guidance at 8.350-8.550 EPS. On average, equities research analysts predict that IDEX Corporation will post 8.49 EPS for the current fiscal year.

IDEX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a $0.73 dividend. The ex-dividend date is Friday, May 22nd. This is a positive change from IDEX's previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a yield of 1.4%. IDEX's dividend payout ratio is 43.20%.

Wall Street Analyst Weigh In

IEX has been the subject of a number of research reports. DA Davidson raised their target price on IDEX from $180.00 to $195.00 and gave the company a "neutral" rating in a research note on Thursday, February 5th. Citigroup raised their target price on IDEX from $243.00 to $252.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Royal Bank Of Canada raised their target price on IDEX from $225.00 to $252.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. TD Cowen raised their target price on IDEX from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of IDEX in a research note on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $240.22.

Insider Buying and Selling

In related news, CEO Eric D. Ashleman sold 15,385 shares of IDEX stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $215.22, for a total value of $3,311,159.70. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

IDEX Company Profile

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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