Fifth Third Bancorp Trims Holdings in IDEX Corporation $IEX

Fifth Third Bancorp trimmed its stake in shares of IDEX Corporation (NYSE:IEX) by 9.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,900 shares of the industrial products company’s stock after selling 199 shares during the period. Fifth Third Bancorp’s holdings in IDEX were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of IEX. Wellington Management Group LLP grew its holdings in IDEX by 19.7% in the first quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company’s stock valued at $914,007,000 after purchasing an additional 831,005 shares during the period. Millennium Management LLC raised its position in IDEX by 1,232.4% in the first quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company’s stock valued at $88,182,000 after purchasing an additional 450,704 shares during the period. Flossbach Von Storch SE acquired a new stake in shares of IDEX in the first quarter valued at $49,815,000. Amundi grew its stake in shares of IDEX by 23.4% in the first quarter. Amundi now owns 1,249,546 shares of the industrial products company’s stock valued at $220,849,000 after buying an additional 236,650 shares in the last quarter. Finally, Impax Asset Management Group plc grew its stake 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 purchasing an additional 207,172 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Up 0.3%

Shares of NYSE IEX opened at $162.60 on Wednesday. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.71 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 3.05. The stock’s 50-day simple moving average is $164.88 and its 200-day simple moving average is $173.75.

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 return on equity of 15.16% and a net margin of 14.05%.The business had revenue of $865.40 million for the quarter, compared to analyst estimates of $858.59 million. During the same period in the previous year, the company earned $2.06 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. 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 anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX declared that its Board of Directors has approved a share buyback plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 10th. IDEX’s dividend payout ratio (DPR) is 45.88%.

Wall Street Analysts Forecast Growth

IEX has been the subject of several analyst reports. DA Davidson set a $180.00 price objective on IDEX and gave the stock a “neutral” rating in a research report on Monday, August 4th. Royal Bank Of Canada reduced their price objective on IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Citigroup increased their target price on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Stifel Nicolaus lowered their price target on IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Finally, Oppenheimer lowered their target price on IDEX from $224.00 to $212.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average target price 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.