Kingsview Wealth Management LLC Purchases Shares of 17,402 IDEX Corporation $IEX

Key Points

• Kingsview Wealth Management purchased 17,402 IDEX shares in the second quarter, valued at approximately $3.95 million. Institutional investors collectively own 97.96% of the company.
• IDEX exceeded quarterly earnings expectations, reporting $2.32 in adjusted EPS versus the $2.11 consensus estimate, while revenue rose 6.4% year over year to $920.6 million.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $260.80, compared with the stock’s recent price of $230.44; IDEX also pays a quarterly dividend of $0.73 per share.

Kingsview Wealth Management LLC purchased a new position in shares of IDEX Corporation (NYSE:IEX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 17,402 shares of the industrial products company's stock, valued at approximately $3,949,000.

A number of other institutional investors have also recently bought and sold shares of IEX. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in IDEX by 4.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 160,520 shares of the industrial products company's stock worth $28,743,000 after buying an additional 6,901 shares during the period. Baader Bank Aktiengesellschaft grew its stake in IDEX by 27.5% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 27,809 shares of the industrial products company's stock worth $4,948,000 after acquiring an additional 6,000 shares in the last quarter. RNC Capital Management LLC grew its stake in IDEX by 227.3% in the 4th quarter. RNC Capital Management LLC now owns 19,807 shares of the industrial products company's stock worth $3,524,000 after acquiring an additional 13,755 shares in the last quarter. Jefferies Financial Group Inc. increased its position in shares of IDEX by 586.2% during the fourth quarter. Jefferies Financial Group Inc. now owns 29,409 shares of the industrial products company's stock worth $5,233,000 after acquiring an additional 25,123 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of IDEX by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,034,942 shares of the industrial products company's stock worth $360,740,000 after acquiring an additional 7,844 shares during the period. Institutional investors own 97.96% of the company's stock.

Insiders Place Their Bets

In other IDEX news, CAO Lisa M. Anderson sold 385 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $238.59, for a total value of $91,857.15. Following the completion of the sale, the chief accounting officer directly owned 4,327 shares in the company, valued at $1,032,378.93. This trade represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

IDEX Price Performance

IEX opened at $230.44 on Friday. The firm has a market capitalization of $16.99 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.15. The business's 50-day moving average is $228.73 and its two-hundred day moving average is $213.75. IDEX Corporation has a 1 year low of $158.19 and a 1 year high of $243.80.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.11 by $0.21. IDEX had a net margin of 14.49% and a return on equity of 15.69%. The business had revenue of $920.60 million during the quarter, compared to analyst estimates of $905.38 million. During the same period in the prior year, the firm posted $2.07 earnings per share. The company's quarterly revenue was up 6.4% on a year-over-year basis. IDEX has set its FY 2026 guidance at 8.700-8.850 EPS and its Q3 2026 guidance at 2.200-2.250 EPS. Research analysts anticipate that IDEX Corporation will post 8.82 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 6th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $2.92 dividend on an annualized basis and a yield of 1.3%. IDEX's dividend payout ratio is presently 42.01%.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of research reports. Seaport Research Partners reiterated a "buy" rating and issued a $250.00 price target on shares of IDEX in a report on Tuesday, May 5th. DA Davidson raised their price objective on IDEX from $230.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Royal Bank Of Canada upped their target price on IDEX from $261.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. TD Cowen raised their price target on IDEX from $260.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Citigroup lifted their price objective on IDEX from $252.00 to $269.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $260.80.

IDEX 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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