Northern Trust Corp Sells 15,325 Shares of IDEX Corporation $IEX

Key Points

• Northern Trust Corp reduced its stake in IDEX Corporation by 1.9%, selling 15,325 shares in the first quarter, leaving it with approximately 778,297 shares valued at $140.8 million.
• Several institutional investors, including Impax Asset Management and Invesco Ltd., increased their positions in IDEX, indicating strong interest from the market.
• IDEX reported earnings of $2.07 per share, exceeding expectations, and disclosed a quarterly dividend of $0.71, with an annualized dividend yield of 1.7%.

Northern Trust Corp decreased its position in shares of IDEX Corporation (NYSE:IEX - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 778,297 shares of the industrial products company's stock after selling 15,325 shares during the quarter. Northern Trust Corp owned approximately 1.03% of IDEX worth $140,848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Impax Asset Management Group plc boosted its stake in IDEX by 11.5% in the 1st quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock worth $363,157,000 after purchasing an additional 207,172 shares during the period. Invesco Ltd. raised its holdings in shares of IDEX by 15.4% during the 1st quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company's stock valued at $279,682,000 after buying an additional 206,633 shares in the last quarter. Fenimore Asset Management Inc raised its holdings in shares of IDEX by 2.0% during the 1st quarter. Fenimore Asset Management Inc now owns 855,951 shares of the industrial products company's stock valued at $154,901,000 after buying an additional 16,444 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of IDEX by 15.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 747,554 shares of the industrial products company's stock valued at $156,456,000 after buying an additional 102,129 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in IDEX by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 685,206 shares of the industrial products company's stock worth $123,996,000 after purchasing an additional 44,489 shares during the period. Institutional investors own 97.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IEX shares. DA Davidson set a $180.00 price objective on IDEX and gave the stock a "neutral" rating in a research report on Monday, August 4th. Citigroup boosted their target price on IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Oppenheimer decreased their price target on IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus decreased their price target on IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Finally, Robert W. Baird set a $215.00 price objective on IDEX in a research report on Friday, May 2nd. Five investment 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 an average target price of $201.71.

IDEX Price Performance

NYSE:IEX opened at $168.45 on Friday. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 1.71 and a beta of 1.04. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The business has a 50 day simple moving average of $173.92 and a 200-day simple moving average of $179.34. 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 (NYSE:IEX - Get Free Report) last issued its quarterly 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. The firm had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%.IDEX's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company 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. Equities analysts forecast that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.7%. IDEX's dividend payout ratio (DPR) is presently 45.88%.

Insider Buying and Selling at IDEX

In other news, CFO Akhil Mahendra sold 250 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the sale, the chief financial officer owned 5,035 shares of the company's stock, valued at $910,781.15. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

About IDEX

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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