IDEX Corporation $IEX Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its position in IDEX Corporation (NYSE:IEX) by 6.9% during the 1st quarter, Holdings Channel reports. The fund owned 89,664 shares of the industrial products company’s stock after selling 6,645 shares during the quarter. Royal Bank of Canada’s holdings in IDEX were worth $16,995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IEX. Empowered Funds LLC lifted its position in IDEX by 95.7% in the first quarter. Empowered Funds LLC now owns 8,418 shares of the industrial products company’s stock valued at $1,596,000 after purchasing an additional 4,116 shares during the period. Evelyn Partners Investment Management LLP increased its position in IDEX by 10.8% during the 1st quarter. Evelyn Partners Investment Management LLP now owns 205,291 shares of the industrial products company’s stock worth $38,913,000 after purchasing an additional 19,932 shares during the period. Quantinno Capital Management LP increased its position in IDEX by 281.4% during the 1st quarter. Quantinno Capital Management LP now owns 114,480 shares of the industrial products company’s stock worth $21,700,000 after purchasing an additional 84,465 shares during the period. Polar Asset Management Partners Inc. purchased a new position in shares of IDEX during the 1st quarter worth approximately $2,047,000. Finally, SummitTX Capital L.P. raised its stake in shares of IDEX by 15.6% during the 1st quarter. SummitTX Capital L.P. now owns 20,197 shares of the industrial products company’s stock worth $3,828,000 after buying an additional 2,732 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on IEX shares. Weiss Ratings upgraded IDEX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 30th. Argus increased their price objective on IDEX from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird set a $257.00 target price on IDEX in a report on Thursday, April 30th. Royal Bank Of Canada boosted their target price on shares of IDEX from $261.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $265.00 price target on shares of IDEX in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, IDEX has an average rating of “Moderate Buy” and a consensus target price of $258.67.

Insiders Place Their Bets

In other news, CEO Eric D. Ashleman sold 15,385 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $215.22, for a total value of $3,311,159.70. Following the completion of the transaction, the chief executive officer owned 66,658 shares in the company, valued at $14,346,134.76. This trade represents a 18.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

IDEX Price Performance

IEX stock opened at $233.79 on Friday. The firm has a 50 day moving average of $223.24 and a 200-day moving average of $209.91. The company has a market cap of $17.24 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.23 and a beta of 0.98. The company has a current ratio of 3.05, a quick ratio of 2.15 and a debt-to-equity ratio of 0.46. IDEX Corporation has a 12-month low of $157.25 and a 12-month high of $243.80.

IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.21. IDEX had a return on equity of 15.69% and a net margin of 14.49%.The business had revenue of $920.60 million for the quarter, compared to analysts’ expectations of $905.38 million. During the same quarter in the prior year, the firm posted $2.07 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. IDEX has set its FY 2026 guidance at 8.700-8.850 EPS and its Q3 2026 guidance at 2.200-2.250 EPS. As a group, equities analysts expect that IDEX Corporation will post 8.85 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Monday, July 6th were issued a $0.73 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $2.92 annualized dividend and a yield of 1.2%. IDEX’s dividend payout ratio is 42.01%.

IDEX Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.