Resona Asset Management Co. Ltd. Increases Stock Position in IDEX Corporation $IEX

Key Points

• Resona Asset Management Co. Ltd. increased its stake in IDEX Corporation by 6.8%, now holding 24,733 shares valued at approximately $4.48 million.
• Analyst price targets for IDEX stock have been lowered, with the consensus price target now at $201.71 and a consensus rating of "Moderate Buy."
• IDEX reported a quarterly earnings per share (EPS) of $2.07, beating expectations and showing a 7.2% year-over-year revenue increase.

Resona Asset Management Co. Ltd. grew its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,733 shares of the industrial products company's stock after acquiring an additional 1,566 shares during the period. Resona Asset Management Co. Ltd.'s holdings in IDEX were worth $4,476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of IEX. Alps Advisors Inc. lifted its position in IDEX by 1.0% in the first quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock valued at $1,084,000 after acquiring an additional 60 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in IDEX by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock valued at $1,031,000 after acquiring an additional 61 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in IDEX by 0.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock valued at $1,508,000 after acquiring an additional 61 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after buying an additional 64 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of IDEX by 3.2% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,127 shares of the industrial products company's stock valued at $445,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Stock Performance

Shares of IDEX stock traded down $2.1050 on Thursday, reaching $162.3650. 676,792 shares of the stock were exchanged, compared to its average volume of 871,344. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average price of $174.11 and a two-hundred day moving average price of $179.69. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The firm has a market capitalization of $12.22 billion, a PE ratio of 26.23, a PEG ratio of 1.73 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.07. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The company had revenue of $865.40 million for the quarter, compared to analyst estimates of $858.59 million. During the same period in the prior year, the business 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, research analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, July 11th. IDEX's dividend payout ratio is presently 45.88%.

Insiders Place Their Bets

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the transaction, the chief financial officer directly owned 5,035 shares in the company, valued at approximately $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Mizuho set a $185.00 target price on shares of IDEX in a report on Friday, May 16th. Citigroup upped their target price on shares of IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a report on Monday, July 14th. Oppenheimer reduced their target price on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating for the company 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. Finally, Stifel Nicolaus reduced their target price on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, IDEX presently has a consensus rating of "Moderate Buy" and an average price target of $201.71.

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.