IDEX Corporation $IEX Shares Sold by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. reduced its stake in IDEX Corporation by 31.5%, now holding 11,405 shares valued at approximately $2 million.
• IDEX has declared a quarterly dividend of $0.71 per share, with a yield of 1.7%, set to be paid on October 24th.
• Several analysts have recently adjusted their price targets for IDEX, with a consensus average target of $201.71 and a rating of "Moderate Buy."

Lecap Asset Management Ltd. reduced its stake in IDEX Corporation (NYSE:IEX - Free Report) by 31.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,405 shares of the industrial products company's stock after selling 5,241 shares during the period. IDEX makes up about 0.7% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 27th biggest holding. Lecap Asset Management Ltd.'s holdings in IDEX were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IEX. Squarepoint Ops LLC increased its holdings in IDEX by 4.2% in the 4th quarter. Squarepoint Ops LLC now owns 2,123 shares of the industrial products company's stock valued at $444,000 after purchasing an additional 85 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of IDEX by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock valued at $1,031,000 after acquiring an additional 61 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of IDEX by 81.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 64 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of IDEX by 970.7% during the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock valued at $79,000 after acquiring an additional 398 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of IDEX by 6.1% during the first quarter. Rhumbline Advisers now owns 172,103 shares of the industrial products company's stock valued at $31,145,000 after acquiring an additional 9,940 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. DA Davidson set a $180.00 target price on IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. Stifel Nicolaus lowered their target price on IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Oppenheimer lowered their target price on IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Citigroup increased their price target on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Royal Bank Of Canada decreased their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $201.71.

IDEX Stock Performance

Shares of NYSE IEX opened at $164.06 on Thursday. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average price is $164.47 and its two-hundred day moving average price is $173.69. IDEX Corporation has a 52-week low of $153.36 and a 52-week high of $238.22. The stock has a market capitalization of $12.35 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.72 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $865.40 million for the quarter, compared to analysts' expectations of $858.59 million. During the same quarter last year, the company posted $2.06 earnings per share. IDEX's revenue was up 7.2% on a year-over-year basis. 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, sell-side analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. IDEX's payout ratio is 45.88%.

IDEX announced that its board has authorized a share buyback plan on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management 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.

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