Bank of New York Mellon Corp Decreases Stock Holdings in IDEX Corporation $IEX

Bank of New York Mellon Corp cut its holdings in IDEX Corporation (NYSE:IEX) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,486 shares of the industrial products company’s stock after selling 81,622 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.55% of IDEX worth $77,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Primecap Management Co. CA increased its position in shares of IDEX by 86.5% during the fourth quarter. Primecap Management Co. CA now owns 3,226,787 shares of the industrial products company’s stock valued at $574,174,000 after buying an additional 1,496,207 shares during the period. Dodge & Cox boosted its position in IDEX by 266.7% during the 4th quarter. Dodge & Cox now owns 1,262,550 shares of the industrial products company’s stock valued at $224,658,000 after acquiring an additional 918,208 shares in the last quarter. Norges Bank bought a new stake in IDEX during the 4th quarter valued at approximately $162,788,000. Millennium Management LLC grew its holdings in shares of IDEX by 293.6% during the 4th quarter. Millennium Management LLC now owns 1,063,763 shares of the industrial products company’s stock worth $189,286,000 after acquiring an additional 793,530 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in shares of IDEX by 35,817.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 720,142 shares of the industrial products company’s stock worth $128,142,000 after acquiring an additional 718,137 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Insider Activity at IDEX

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

Analysts Set New Price Targets

Several brokerages recently weighed in on IEX. BMO Capital Markets started coverage on IDEX in a research note on Friday, March 27th. They issued a “market perform” rating and a $214.00 price target on the stock. Oppenheimer boosted their target price on shares of IDEX from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday. Robert W. Baird set a $257.00 target price on shares of IDEX in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of IDEX from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Finally, Stifel Nicolaus lifted their price target on shares of IDEX from $250.00 to $257.00 and gave the company a “buy” rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $244.00.

IDEX Stock Performance

Shares of IEX stock opened at $221.22 on Wednesday. The company has a quick ratio of 2.40, a current ratio of 3.39 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average price of $218.40 and a 200-day moving average price of $206.22. IDEX Corporation has a 52 week low of $157.25 and a 52 week high of $231.70. The firm has a market capitalization of $16.37 billion, a PE ratio of 32.73, a P/E/G ratio of 2.17 and a beta of 0.98.

IDEX (NYSE:IEX) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.22. IDEX had a return on equity of 15.29% and a net margin of 14.38%.The business had revenue of $886.90 million for the quarter, compared to analysts’ expectations of $845.58 million. During the same period last year, the firm posted $1.75 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. IDEX has set its Q2 2026 guidance at 2.070-2.120 EPS and its FY 2026 guidance at 8.350-8.550 EPS. As a group, equities research analysts expect that IDEX Corporation will post 8.49 earnings per share for the current year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Monday, July 6th will be given a dividend of $0.73 per share. The ex-dividend date is Monday, July 6th. This represents a $2.92 annualized dividend and a dividend yield of 1.3%. IDEX’s dividend payout ratio (DPR) is presently 43.20%.

About IDEX

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.