IDEX Corporation $IEX Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in IDEX Corporation by 46.5% in Q1, now holding 1,963,041 shares valued at approximately $355 million.
• Several institutional investors increased their positions in IDEX, including Guggenheim Capital LLC, which raised its stake by 16.3%, and Dimensional Fund Advisors LP with a 13.0% increase.
• IDEX Corporation reported Q2 earnings of $2.07 per share, exceeding analysts’ estimates, along with announcing a quarterly dividend of $0.71 per share.

Price T Rowe Associates Inc. MD cut its position in IDEX Corporation (NYSE:IEX - Free Report) by 46.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,963,041 shares of the industrial products company's stock after selling 1,703,736 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.60% of IDEX worth $355,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque de Luxembourg S.A. purchased a new position in shares of IDEX in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in IDEX by 81.0% during the 1st 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 during the last quarter. UMB Bank n.a. boosted its stake in IDEX by 63.5% during the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 87 shares during the last quarter. Quarry LP bought a new position in IDEX during the 4th quarter valued at $49,000. Finally, Federated Hermes Inc. boosted its stake in IDEX by 42.9% during the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock valued at $60,000 after acquiring an additional 100 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IEX has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on shares of IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Robert W. Baird set a $215.00 target price on shares of IDEX in a report on Friday, May 2nd. Oppenheimer dropped their target price on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada dropped their target price on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Finally, Citigroup increased their target price on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.71.

Insider Buying and Selling at IDEX

In other news, CFO Akhil Mahendra sold 250 shares of IDEX stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the transaction, the chief financial officer owned 5,035 shares of the company's stock, valued at $910,781.15. The trade was a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.50% of the company's stock.

IDEX Stock Performance

Shares of IEX stock traded up $0.15 during trading hours on Wednesday, reaching $166.15. The stock had a trading volume of 612,288 shares, compared to its average volume of 678,152. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $238.22. The firm has a 50-day simple moving average of $173.45 and a 200-day simple moving average of $178.78. The firm has a market capitalization of $12.51 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 1.75 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The firm had revenue of $865.40 million during the quarter, compared to the consensus estimate of $858.59 million. During the same period in the prior year, the firm posted $2.06 earnings per share. The firm's revenue for the quarter 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 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 was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's dividend payout ratio is presently 45.88%.

IDEX Company 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.