Czech National Bank Raises Its Stake in IDEX Co. (NYSE:IEX)

The Czech National Bank has increased its position in IDEX Co. (NYSE:IEX) by 6.9% in the third quarter, as reported in its latest Form 13F filing with the SEC. After acquiring an additional 997 shares, the bank now holds a total of 15,421 shares of the industrial products firm, valued at approximately $3,308,000 at the end of the recent reporting period.

In addition to the Czech National Bank's actions, other institutional investors have also modified their stakes in IDEX Co. during the last few months. Riverview Trust Co. initiated a new stake in IDEX during the first quarter, investing around $35,000. Meanwhile, Quarry LP acquired a new position valued at approximately $36,000 in the fourth quarter. EdgeRock Capital LLC also purchased shares worth about $41,000 in the second quarter. Furthermore, Whittier Trust Co. increased its holdings in IDEX by 38.4% during the second quarter, bringing its total to 209 shares valued at $42,000 after buying an additional 58 shares. UMB Bank n.a. raised its stake by 31.0% in the same quarter, now owning 241 shares worth $48,000 after an additional purchase of 57 shares. Overall, institutional investors own a significant 97.96% of IDEX’s stock.

IDEX Stock Overview

On Friday, shares of IDEX (NYSE:IEX) opened at $211.49. The company boasts a market capitalization of $16.01 billion, with a price-to-earnings ratio of 27.68 and a PEG ratio of 2.20. The stock has ranged from a low of $183.76 to a high of $246.36 over the past year. Its fifty-day simple moving average stands at $202.97 and the 200-day simple moving average is $210.74. The company also showcases strong liquidity metrics with a current ratio of 3.41 and a quick ratio of 2.52, alongside a modest debt-to-equity ratio of 0.36.

IDEX announced its latest quarterly earnings on July 31. For that quarter, the company delivered earnings per share (EPS) of $2.06, slightly exceeding analysts' expectations of $2.04. However, the company reported a revenue of $807.20 million, which fell short of the analysts’ anticipated $828.15 million. The net profit margin for IDEX was reported at 18.19%, with a return on equity of 16.87%. Year-over-year, the company’s revenue saw a decline of 4.6%, compared to an EPS of $2.18 for the same quarter last year. Current forecasts predict that IDEX Co. will report an EPS of 7.88 for the current financial year.

Dividend Distribution

IDEX Co. also announced a quarterly dividend, scheduled for payment on Friday, October 25th. Shareholders on record as of Friday, October 11th, will receive a dividend of $0.69 per share, translating to an annual dividend of $2.76, which results in a yield of 1.31%. The ex-dividend date fell on October 11th, and the company's payout ratio stands at 36.13%.

Analyst Ratings and Price Targets

Several brokerages have recently adjusted their ratings and price targets for IDEX. StockNews.com downgraded the stock from a “buy” to a “hold” rating. Additionally, Robert W. Baird lowered their target price from $256.00 to $241.00 while maintaining an “outperform” rating. TD Cowen decreased their price target from $240.00 to $230.00 and issued a “buy” rating. Oppenheimer reduced their target from $245.00 to $238.00 with an “outperform” rating as well. Lastly, the Royal Bank of Canada cut its target from $250.00 to $236.00, keeping an “outperform” rating. Presently, three analysts have assigned a hold rating, with six giving a buy rating. The consensus from MarketBeat.com indicates an average rating of “Moderate Buy” and a target price of $238.29.

IDEX Company Overview

IDEX Corporation, through its subsidiaries, provides a variety of applied solutions worldwide. The company operates across three primary segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment is known for designing, producing, and distributing positive displacement pumps, valves, flow meters, and various fluid-handling systems and services, catering to industries such as food, chemical, general industrial, water, wastewater, agriculture, and energy.

IDEX, Czech, Bank