Legacy Wealth Management LLC MS Has $2.17 Million Holdings in IDEX Corporation $IEX

Legacy Wealth Management LLC MS cut its position in shares of IDEX Corporation (NYSE:IEX) by 18.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,353 shares of the industrial products company’s stock after selling 3,110 shares during the period. Legacy Wealth Management LLC MS’s holdings in IDEX were worth $2,173,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. UniSuper Management Pty Ltd lifted its stake in IDEX by 15.0% in the first quarter. UniSuper Management Pty Ltd now owns 11,424 shares of the industrial products company’s stock valued at $2,067,000 after acquiring an additional 1,491 shares during the last quarter. United Services Automobile Association bought a new position in shares of IDEX during the 1st quarter valued at $281,000. MBB Public Markets I LLC acquired a new stake in shares of IDEX in the 1st quarter valued at $310,000. Empowered Funds LLC lifted its stake in shares of IDEX by 3.4% in the 1st quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 54 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in IDEX by 2.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 769,341 shares of the industrial products company’s stock worth $139,228,000 after purchasing an additional 21,787 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

IEX has been the subject of a number of analyst reports. Cowen reaffirmed a “buy” rating on shares of IDEX in a research report on Wednesday, December 3rd. Royal Bank Of Canada lowered their price target on IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Stifel Nicolaus lowered their target price on shares of IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Finally, Citigroup lifted their target price on shares of IDEX from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $196.86.

IDEX Trading Up 2.3%

Shares of IEX stock opened at $184.65 on Friday. The firm has a market capitalization of $13.82 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $226.04. The firm’s fifty day simple moving average is $174.34 and its 200 day simple moving average is $170.72. The company has a current ratio of 2.93, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. The company had revenue of $712.00 million for the quarter. IDEX has set its FY 2025 guidance at 7.860-7.91 EPS. As a group, sell-side analysts predict that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, January 16th. IDEX’s payout ratio is currently 44.94%.

IDEX announced that its board has authorized a share buyback program on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.