Primecap Management Co. CA Invests $748.95 Million in IDEX Corporation $IEX

Primecap Management Co. CA acquired a new stake in shares of IDEX Corporation (NYSE:IEX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,300,072 shares of the industrial products company’s stock, valued at approximately $748,951,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of IDEX during the 2nd quarter worth about $1,301,393,000. Dodge & Cox increased its stake in IDEX by 266.7% in the fourth 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 during the period. Norges Bank acquired a new position in IDEX in the fourth quarter worth about $162,788,000. Millennium Management LLC raised its position in IDEX by 293.6% in the fourth quarter. Millennium Management LLC now owns 1,063,763 shares of the industrial products company’s stock worth $189,286,000 after purchasing an additional 793,530 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in IDEX by 215.0% during the first quarter. Bank of America Corp DE now owns 1,094,101 shares of the industrial products company’s stock worth $207,387,000 after purchasing an additional 746,732 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Lisa M. Anderson sold 385 shares of IDEX stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $238.59, for a total value of $91,857.15. Following the completion of the transaction, the chief accounting officer directly owned 4,327 shares of the company’s stock, valued at $1,032,378.93. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IEX has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their price objective on IDEX from $261.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Mizuho upgraded IDEX from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $210.00 to $280.00 in a research report on Tuesday, August 11th. TD Cowen boosted their price target on IDEX from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Stifel Nicolaus upped their price target on IDEX from $257.00 to $268.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Robert W. Baird set a $257.00 price objective on IDEX in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $260.80.

IDEX Stock Down 1.5%

NYSE IEX opened at $230.16 on Wednesday. The firm has a market cap of $16.97 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. IDEX Corporation has a one year low of $158.19 and a one year high of $243.80. The stock’s 50 day simple moving average is $228.24 and its 200 day simple moving average is $213.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.15.

IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.21. IDEX had a return on equity of 15.69% and a net margin of 14.49%.The firm had revenue of $920.60 million during the quarter, compared to analysts’ expectations of $905.38 million. During the same period last year, the firm posted $2.07 EPS. The business’s revenue was up 6.4% on a year-over-year basis. IDEX has set its FY 2026 guidance at 8.700-8.850 EPS and its Q3 2026 guidance at 2.200-2.250 EPS. As a group, sell-side analysts forecast that IDEX Corporation will post 8.82 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders 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 dividend yield of 1.3%. IDEX’s dividend payout ratio (DPR) is 42.01%.

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.