State of New Jersey Common Pension Fund D Has $4.47 Million Stock Holdings in IDEX Corporation $IEX

Key Points

• The State of New Jersey Common Pension Fund D increased its stake in IDEX Corporation by 8.6% in Q1, now holding 24,702 shares valued at approximately $4.47 million.
• IDEX reported $2.07 earnings per share (EPS) for the last quarter, surpassing estimates, and experienced a 7.2% year-over-year revenue growth with total revenue of $865.4 million.
• The company announced a quarterly dividend of $0.71 per share, representing an annualized rate of $2.84 and a dividend yield of 1.7%.

State of New Jersey Common Pension Fund D grew its stake in IDEX Corporation (NYSE:IEX - Free Report) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,702 shares of the industrial products company's stock after purchasing an additional 1,966 shares during the period. State of New Jersey Common Pension Fund D's holdings in IDEX were worth $4,470,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Element Capital Management LLC bought a new position in IDEX during the first quarter valued at about $2,671,000. Aberdeen Group plc increased its holdings in IDEX by 15.1% in the 1st quarter. Aberdeen Group plc now owns 57,806 shares of the industrial products company's stock valued at $10,349,000 after buying an additional 7,603 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of IDEX by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 685,206 shares of the industrial products company's stock valued at $123,996,000 after buying an additional 44,489 shares in the last quarter. Horizon Investments LLC lifted its holdings in shares of 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 acquiring an additional 54 shares during the period. Finally, OneAscent Investment Solutions LLC acquired a new stake in shares of IDEX during the 1st quarter valued at about $320,000. Institutional investors and hedge funds own 97.96% of the company's stock.

Wall Street Analyst Weigh In

IEX has been the subject of several recent research reports. Citigroup increased their price target on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Oppenheimer lowered their price objective on IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. DA Davidson set a $180.00 target price on IDEX and gave the stock a "neutral" rating in a research report on Monday, August 4th. Robert W. Baird set a $215.00 price target on IDEX in a research note on Friday, May 2nd. Finally, Stifel Nicolaus lowered their price target on IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $201.71.

IDEX Price Performance

Shares of IEX stock traded down $1.5270 during trading hours on Monday, hitting $167.0330. 41,794 shares of the company's stock were exchanged, compared to its average volume of 675,404. The stock's 50-day moving average is $173.92 and its 200-day moving average is $179.08. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $238.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 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%.The company's revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $2.06 earnings per share. 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 forecast that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's dividend payout ratio (DPR) is presently 45.88%.

Insider Activity at IDEX

In related news, CFO Akhil Mahendra sold 250 shares of IDEX stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the completion of the sale, the chief financial officer directly owned 5,035 shares of the company's stock, valued at approximately $910,781.15. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

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.