Paloma Partners Management Co Cuts Stock Position in IDEX Corporation $IEX

Key Points

• Paloma Partners Management Co reduced its stake in IDEX Corporation by 71.3%, holding 11,500 shares worth approximately $2.08 million after selling 28,500 shares in the first quarter.
• IDEX recently announced a quarterly dividend of $0.71 per share, resulting in an annual yield of 1.7%, with a dividend payout ratio of 45.88%.
• The company's stock received a range of target price adjustments from analysts, with Citigroup raising their target from $208 to $216, while Oppenheimer and Royal Bank Of Canada lowered theirs to $212 and $200, respectively.

Paloma Partners Management Co lowered its position in IDEX Corporation (NYSE:IEX - Free Report) by 71.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,500 shares of the industrial products company's stock after selling 28,500 shares during the period. Paloma Partners Management Co's holdings in IDEX were worth $2,081,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Horizon Investments LLC grew its position in IDEX by 5.2% during the 1st quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company's stock worth $197,000 after purchasing an additional 54 shares during the last quarter. Alps Advisors Inc. grew its position in IDEX by 1.0% during the 1st quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock worth $1,084,000 after purchasing an additional 60 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in IDEX by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock worth $1,031,000 after purchasing an additional 61 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in IDEX by 0.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock worth $1,508,000 after purchasing an additional 61 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position 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 worth $26,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

Wall Street Analysts Forecast Growth

IEX has been the subject of several research reports. Stifel Nicolaus decreased their price objective 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. Citigroup lifted their price objective on shares of IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Mizuho set a $185.00 price objective on shares of IDEX in a research note on Friday, May 16th. Royal Bank Of Canada decreased their price objective on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, DA Davidson set a $180.00 price objective on shares of IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $201.71.

IDEX Stock Performance

Shares of NYSE:IEX traded down $0.14 during trading on Friday, hitting $164.72. 647,510 shares of the stock traded hands, compared to its average volume of 681,755. 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 company has a market cap of $12.40 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.74 and a beta of 1.02. The company has a fifty day moving average price of $171.74 and a two-hundred day moving average price of $177.19. IDEX Corporation has a 52-week low of $153.36 and a 52-week high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, beating the consensus estimate 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 net margin of 14.05% and a return on equity of 15.16%. The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous 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 predict that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's 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.