Thu Sep 26 14:12:52 UTC 2024: ## Pacer Advisors Reduces Stake in IDEX Co. as Institutional Investors Show Interest
**New York, NY** – Pacer Advisors Inc. trimmed its position in industrial products company IDEX Co. (NYSE:IEX) by 21.7% in the second quarter, according to a recent filing with the Securities and Exchange Commission. The fund now holds 14,914 shares of IDEX, valued at $3,001,000. This comes as other institutional investors are showing increasing interest in the company.
Price T Rowe Associates Inc. MD boosted its stake in IDEX by 7.5% during the first quarter, now owning 7,964,956 shares worth $1,943,609,000. Hsbc Holdings PLC also increased its stake by 75.6% in the second quarter, owning 519,124 shares worth $104,179,000. Other notable increases include Goldman Sachs Group Inc. and Dimensional Fund Advisors LP.
Despite the reduced stake by Pacer Advisors, IDEX continues to attract institutional investors with a staggering 97.96% of its stock currently held by them.
Recent research analysts’ reports have been mixed, with some downgrading the stock while others maintaining a positive outlook. While StockNews.com and Argus downgraded IDEX to a “hold” rating, TD Cowen, Oppenheimer, and Royal Bank of Canada all maintained a “buy” rating with price target adjustments. Overall, IDEX has a “Moderate Buy” consensus rating with a price target of $233.50, according to MarketBeat.com.
IDEX reported earnings per share of $2.06 for the quarter ending July 31st, exceeding analyst expectations. The company also declared a quarterly dividend of $0.69 per share, payable on October 25th.
IDEX provides applied solutions worldwide through its three segments: Fluid & Metering Technologies, Health & Science Technologies, and Fire & Safety/Diversified Products. The company’s performance is closely watched by investors, who are analyzing the company’s future prospects and the impact of its recent financial reports on its stock price.
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