Royal Bank of Canada Sells 27,816 Shares of IDEX Corporation $IEX

Key Points

• Royal Bank of Canada reduced its stake in IDEX Corporation by 21.3%, selling 27,816 shares and retaining approximately 102,836 shares valued at $18.6 million.
• Several institutional investors have increased their holdings in IDEX, with MassMutual Private Wealth & Trust FSB raising its stake by 81.0% during the same quarter.
• IDEX's latest earnings report exceeded analyst expectations, reporting $2.07 earnings per share compared to the forecast of $2.00, with revenue rising 7.2% year-over-year.

Royal Bank of Canada lessened its holdings in shares of IDEX Corporation (NYSE:IEX - Free Report) by 21.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 102,836 shares of the industrial products company's stock after selling 27,816 shares during the period. Royal Bank of Canada owned 0.14% of IDEX worth $18,610,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of IEX. Wellington Management Group LLP grew its holdings in IDEX by 19.7% during 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 acquiring an additional 831,005 shares during the period. Flossbach Von Storch SE acquired a new stake in IDEX during the 1st quarter worth $49,815,000. Impax Asset Management Group plc grew its holdings in IDEX by 11.5% during 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 acquiring an additional 207,172 shares during the period. Invesco Ltd. grew its holdings in IDEX by 15.4% during the 1st quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company's stock worth $279,682,000 after acquiring an additional 206,633 shares during the period. Finally, Findlay Park Partners LLP grew its holdings in shares of IDEX by 66.0% in the 1st quarter. Findlay Park Partners LLP now owns 469,299 shares of the industrial products company's stock valued at $84,929,000 after buying an additional 186,599 shares during the period. Institutional investors and hedge funds own 97.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Oppenheimer decreased their price target 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. Royal Bank Of Canada decreased their price target on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. DA Davidson set a $180.00 price target on shares of IDEX and gave the company a "neutral" rating in a report on Monday, August 4th. Citigroup boosted their price target on shares of IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Stifel Nicolaus decreased their price target 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 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 company has an average rating of "Moderate Buy" and an average target price of $201.71.

IDEX Stock Down 2.3%

IEX traded down $3.83 during trading on Friday, hitting $160.66. The company had a trading volume of 394,416 shares, compared to its average volume of 657,390. The company has a market capitalization of $12.10 billion, a PE ratio of 25.96, a PEG ratio of 1.73 and a beta of 1.02. IDEX Corporation has a one year low of $153.36 and a one year high of $238.22. The firm's 50-day moving average price is $169.95 and its 200 day moving average price is $175.88. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46.

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

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's payout ratio is currently 45.88%.

IDEX 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.