Guinness Asset Management LTD Sells 329 Shares of IDEX Corporation $IEX

Guinness Asset Management LTD lowered its holdings in IDEX Corporation (NYSE:IEX) by 13.7% during the first quarter, HoldingsChannel.com reports. The fund owned 2,079 shares of the industrial products company’s stock after selling 329 shares during the period. Guinness Asset Management LTD’s holdings in IDEX were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Horizon Investments LLC increased its stake in IDEX by 5.2% in the first quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company’s stock valued at $197,000 after acquiring an additional 54 shares during the period. Empowered Funds LLC increased its stake in IDEX by 3.4% in the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 54 shares during the period. Alps Advisors Inc. increased its stake 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 period. Wealth Enhancement Advisory Services LLC increased its stake 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 period. Finally, Oppenheimer Asset Management Inc. increased its stake 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 period. Institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Mizuho set a $185.00 price objective on shares of IDEX in a research note on Friday, May 16th. Royal Bank Of Canada decreased their price objective on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Oppenheimer decreased their price objective on shares of IDEX from $224.00 to $212.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Finally, Stifel Nicolaus decreased their price objective on shares of IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.71.

IDEX Price Performance

Shares of IEX stock opened at $164.40 on Friday. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The firm’s 50 day moving average is $170.36 and its 200-day moving average is $176.27. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.69 and a beta of 1.02. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX) last announced its 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 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 earned $2.06 earnings per share. IDEX’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. Sell-side analysts forecast that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

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