IDEX Corporation $IEX Shares Bought by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd has increased its stake in IDEX Corporation by 8.3%, owning a total of 20,375 shares valued at $3,577,000 as of the latest SEC filing.
• IDEX Corporation reported earnings of $2.07 EPS for the last quarter, beating expectations and noting a year-over-year revenue increase of 7.2%.
• The company has authorized a $1.00 billion share buyback program, indicating confidence in the stock's value amid institutional ownership at 97.96%.

IFM Investors Pty Ltd grew its position in IDEX Corporation (NYSE:IEX - Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,375 shares of the industrial products company's stock after acquiring an additional 1,557 shares during the quarter. IFM Investors Pty Ltd's holdings in IDEX were worth $3,577,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Wellington Management Group LLP lifted its stake in IDEX by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company's stock worth $914,007,000 after purchasing an additional 831,005 shares in the last quarter. Millennium Management LLC raised its position in shares of IDEX by 1,232.4% during the 1st quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company's stock valued at $88,182,000 after buying an additional 450,704 shares during the period. Flossbach Von Storch SE purchased a new position in IDEX in the first quarter worth approximately $49,815,000. Amundi increased its stake in IDEX by 23.4% during the first quarter. Amundi now owns 1,249,546 shares of the industrial products company's stock worth $220,849,000 after acquiring an additional 236,650 shares during the last quarter. Finally, Impax Asset Management Group plc increased its stake in IDEX by 11.5% during the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock worth $363,157,000 after acquiring an additional 207,172 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

IDEX Stock Down 0.2%

NYSE:IEX traded down $0.27 during midday trading on Monday, hitting $160.76. 661,301 shares of the company were exchanged, compared to its average volume of 696,910. 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 Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The company has a market capitalization of $12.10 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.70 and a beta of 1.02. The company has a fifty day simple moving average of $167.43 and a 200 day simple moving average of $174.62.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.07. The firm had revenue of $865.40 million during the quarter, compared to analysts' expectations of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The business's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $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 anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued a $0.71 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.84 annualized dividend and a yield of 1.8%. IDEX's payout ratio is 45.88%.

IDEX declared that its Board of Directors has authorized a share buyback plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 8.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Oppenheimer reduced their price objective 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 reduced their price target on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Citigroup increased their price objective 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. DA Davidson set a $180.00 price target on shares of IDEX and gave the stock a "neutral" rating in a research report on Monday, August 4th. Finally, Stifel Nicolaus dropped their price target on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $201.71.

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.