Renaissance Technologies LLC Makes New Investment in IDEX Corporation $IEX

Renaissance Technologies LLC acquired a new stake in shares of IDEX Corporation (NYSE:IEX) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 84,525 shares of the industrial products company’s stock, valued at approximately $16,022,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Primecap Management Co. CA raised its position in shares of IDEX by 86.5% in the 4th quarter. Primecap Management Co. CA now owns 3,226,787 shares of the industrial products company’s stock worth $574,174,000 after acquiring an additional 1,496,207 shares in the last quarter. State Street Corp boosted its position in shares of IDEX by 0.6% during the fourth quarter. State Street Corp now owns 3,172,410 shares of the industrial products company’s stock valued at $564,499,000 after purchasing an additional 17,668 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of IDEX by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,034,942 shares of the industrial products company’s stock valued at $360,740,000 after purchasing an additional 7,844 shares in the last quarter. Van ECK Associates Corp grew its stake in IDEX by 3.3% in the fourth quarter. Van ECK Associates Corp now owns 1,976,856 shares of the industrial products company’s stock worth $351,762,000 after purchasing an additional 63,699 shares during the period. Finally, Invesco Ltd. grew its stake in IDEX by 16.1% in the third quarter. Invesco Ltd. now owns 1,809,788 shares of the industrial products company’s stock worth $294,561,000 after purchasing an additional 250,447 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 1.3%

IEX stock opened at $230.70 on Friday. The business has a 50 day moving average of $221.26 and a 200 day moving average of $208.55. The firm has a market cap of $17.01 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. IDEX Corporation has a twelve month low of $157.25 and a twelve month high of $243.80. The company has a quick ratio of 2.40, a current ratio of 3.05 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, July 29th. The industrial products company reported $2.32 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $905.38 million. During the same period in the previous year, the company posted $2.07 earnings per share. The company’s revenue for the quarter 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. On average, research analysts forecast that IDEX Corporation will post 8.82 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 6th were paid a $0.73 dividend. The ex-dividend date was Monday, July 6th. This represents a $2.92 dividend on an annualized basis and a yield of 1.3%. IDEX’s payout ratio is presently 42.01%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IEX. Royal Bank Of Canada raised their price objective on IDEX from $261.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird set a $257.00 target price on shares of IDEX in a research report on Thursday, April 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $265.00 target price on shares of IDEX in a research report on Thursday. Citigroup increased their price target on shares of IDEX from $252.00 to $269.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings raised shares of IDEX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $251.44.

Insider Transactions at IDEX

In related news, CEO Eric D. Ashleman sold 15,385 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $215.22, for a total transaction of $3,311,159.70. Following the sale, the chief executive officer directly owned 66,658 shares of the company’s stock, valued at approximately $14,346,134.76. This represents a 18.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by insiders.

IDEX Company 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.