Rep. Jefferson Shreve Sells Off Shares of IDEX Co. (NYSE:IEX)

Representative Jefferson Shreve (R-Indiana) recently sold shares of IDEX Co. NYSE: IEX. In a filing disclosed on March 09th, the Representative disclosed that they had sold between $15,001 and $50,000 in IDEX stock on February 24th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 - $50,000 in shares of RTX NYSE: RTX on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of Royal Gold NASDAQ: RGLD on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of QUALCOMM NASDAQ: QCOM on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of Pfizer NYSE: PFE on 2/24/2025.
• Sold $15,001 - $50,000 in shares of Norfolk Southern NYSE: NSC on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of CoStar Group NASDAQ: CSGP on 2/24/2025.
• Purchased $50,001 - $100,000 in shares of AbbVie NYSE: ABBV on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of Johnson & Johnson NYSE: JNJ on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of The Cigna Group NYSE: CI on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of Adobe NASDAQ: ADBE on 2/24/2025.

IDEX Price Performance

IEX stock traded up $4.24 during midday trading on Friday, reaching $182.47. The stock had a trading volume of 554,632 shares, compared to its average volume of 491,486. IDEX Co. has a 52-week low of $177.71 and a 52-week high of $246.36. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The company's fifty day simple moving average is $203.70 and its 200 day simple moving average is $210.93. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99.

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IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. As a group, sell-side analysts predict that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEX

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in IDEX by 108.4% in the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company's stock valued at $607,234,000 after buying an additional 1,472,456 shares during the last quarter. Norges Bank purchased a new stake in shares of IDEX in the 4th quarter valued at approximately $217,658,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock worth $767,421,000 after acquiring an additional 277,964 shares during the last quarter. Champlain Investment Partners LLC boosted its position in shares of IDEX by 28.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company's stock worth $262,479,000 after purchasing an additional 273,460 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in IDEX by 133.2% in the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock valued at $85,105,000 after purchasing an additional 232,255 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of analyst reports. Royal Bank of Canada dropped their price target on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Citigroup dropped their target price on IDEX from $269.00 to $267.00 and set a "buy" rating for the company in a report on Monday, January 13th. DA Davidson reduced their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Finally, Stifel Nicolaus upped their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, IDEX currently has an average rating of "Moderate Buy" and an average price target of $241.71.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

IDEX Company Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.