Bank of Nova Scotia Makes New Investment in IDEX Corporation $IEX

Bank of Nova Scotia bought a new position in shares of IDEX Corporation (NYSE:IEX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,797 shares of the industrial products company’s stock, valued at approximately $1,770,000.

A number of other large investors have also recently made changes to their positions in IEX. BlackRock Inc. bought a new position in shares of IDEX in the second quarter worth about $1,301,393,000. Primecap Management Co. CA lifted its holdings in IDEX by 86.5% during the 4th 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 in the last quarter. State Street Corp boosted its position in IDEX by 0.6% in the 4th quarter. State Street Corp now owns 3,172,410 shares of the industrial products company’s stock valued at $564,499,000 after buying an additional 17,668 shares during the period. Geode Capital Management LLC boosted its position in IDEX by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,034,942 shares of the industrial products company’s stock valued at $360,740,000 after buying an additional 7,844 shares during the period. Finally, Van ECK Associates Corp grew its stake in IDEX by 3.3% in the 4th quarter. Van ECK Associates Corp now owns 1,976,856 shares of the industrial products company’s stock worth $351,762,000 after acquiring an additional 63,699 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Performance

Shares of NYSE:IEX opened at $234.91 on Thursday. The firm has a 50 day moving average of $228.47 and a 200 day moving average of $213.48. The company has a quick ratio of 2.15, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 2.17 and a beta of 0.98. IDEX Corporation has a 52 week low of $158.19 and a 52 week high of $243.80.

IDEX (NYSE:IEX) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $905.38 million. During the same quarter last year, the firm earned $2.07 EPS. The business’s revenue for the quarter 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. On average, sell-side analysts predict that IDEX Corporation will post 8.82 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 6th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $2.92 dividend on an annualized basis and a yield of 1.2%. IDEX’s dividend payout ratio (DPR) is presently 42.01%.

Analyst Ratings Changes

IEX has been the topic of a number of research reports. TD Cowen raised their target price on shares of IDEX from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Robert W. Baird set a $257.00 price objective on IDEX in a research note on Thursday, April 30th. Royal Bank Of Canada raised their price objective on IDEX from $261.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Weiss Ratings upgraded IDEX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $265.00 price target on shares of IDEX in a research report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.80.

IDEX News Summary

Here are the key news stories impacting IDEX this week:

• Positive Sentiment: Zacks increased its FY2026 EPS estimate to $8.71 from $8.70, Q4 2026 to $2.20 from $2.18, and Q1 2027 to $2.12 from $2.11.
• Positive Sentiment: Longer-term estimates also improved: FY2027 EPS rose to $9.26 from $9.21, Q4 2027 to $2.42 from $2.38, Q1 2028 to $2.38 from $2.36, and FY2028 to $10.54 from $10.45. The revisions imply continued earnings growth, although the increases were relatively small.
• Positive Sentiment: The revised FY2026 estimate of $8.71 remains close to the broader analyst consensus of $8.82. IDEX’s latest reported quarter also showed earnings and revenue ahead of expectations, with EPS of $2.32 and revenue of $920.6 million, up 6.4% year over year.
• Neutral Sentiment: The six Zacks updates largely repeat the same forecast changes rather than representing separate fundamental developments. Investors may view them as supportive, but the limited size of the revisions may constrain their impact.
• Neutral Sentiment: IDEX shares have increased and are trading near the upper end of their 52-week range, above both their 50-day and 200-day moving averages. With a market capitalization of approximately $17.3 billion and a forward-looking valuation near 27 times earnings, further gains may depend on the company converting the raised forecasts into actual results.
• Neutral Sentiment: A separate report concerns IDEX Biometrics ASA (OTC: IDXAF), which granted incentive subscription rights to two senior employees. That company is unrelated to IDEX Corporation and should not affect IEX shares. IDEX Biometrics executive incentive rights announcement

Insider Transactions at IDEX

In other IDEX 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 transaction, the chief accounting officer owned 4,327 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

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.