IDEX Corporation $IEX Shares Sold by Royal Bank of Canada

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

A number of other institutional investors also recently made changes to their positions in IEX. MassMutual Private Wealth & Trust FSB raised its position in shares of IDEX by 81.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 64 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of IDEX by 63.5% in the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 87 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of IDEX in the 1st quarter valued at approximately $56,000. Federated Hermes Inc. increased its holdings in shares of IDEX by 42.9% in the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock valued at $60,000 after acquiring an additional 100 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of IDEX by 970.7% in the 1st quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock valued at $79,000 after acquiring an additional 398 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Performance

IEX stock traded up $0.39 during trading on Monday, reaching $160.94. 677,281 shares of the company's stock were exchanged, compared to its average volume of 648,151. 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 Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The company's fifty day moving average price is $169.58 and its 200-day moving average price is $175.52. The firm has a market cap of $12.12 billion, a PE ratio of 26.00, a P/E/G ratio of 1.69 and a beta of 1.02.

IDEX (NYSE:IEX - Get Free Report) last announced 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. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The company had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. During the same quarter in the previous year, the firm posted $2.06 EPS. The firm's quarterly revenue was up 7.2% on a year-over-year basis. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. On average, research analysts expect that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on IEX. Citigroup boosted their price target on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a report on Monday, July 14th. DA Davidson set a $180.00 price target on IDEX and gave the company a "neutral" rating in a report on Monday, August 4th. Royal Bank Of Canada lowered their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Oppenheimer lowered their price target on IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Finally, Stifel Nicolaus lowered their price target on 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 issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.