IDEX (IEX) to Benefit From Business Strength Amid Headwinds

分组1 - The company is committed to rewarding shareholders through dividends and share buybacks, with $48.5 million in dividends paid in Q1 2024 and a total of $190.7 million in 2023, alongside $24.2 million in stock repurchases [1] - A 7.8% increase in the quarterly dividend rate was announced in May 2024 [1] 分组2 - The Health & Science Technologies (HST) segment experienced a revenue decline of 12% in Q1 2024, following an 11% decline in the previous quarter, raising concerns about market softness [2] - IDEX Corporation (IEX) reported a 2% year-over-year revenue increase in its Fire & Safety/Diversified Products (FSDP) segment in Q1 2024, driven by strong demand from industrial and municipal markets [4] - IEX's overall organic revenue growth is expected to be between 0-2% in 2024 [4] 分组3 - IEX acquired STC Material Solutions for $206 million in December 2023 to enhance its expertise in material sciences [5] - The company has faced escalating operating expenses, with selling, general, and administrative expenses rising 2.8% year-over-year in Q1 2024, increasing as a percentage of sales to 24.4% [6] 分组4 - Crane Company (CR) has a trailing four-quarter average earnings surprise of 15.2% and a Zacks Rank of 2 (Buy) [7] - The Zacks Consensus Estimate for CR's 2024 earnings has increased by 4% in the past 60 days [8] - Ingersoll Rand Inc. (IR) also holds a Zacks Rank of 2, with a trailing four-quarter earnings surprise of 12.9% [8][9] 分组5 - IEX's acquisition of Iridian Spectral in May 2023 and the Muon Group buyout in November 2022 are expected to enhance its optical technology offerings and highly-engineered solutions, respectively, with anticipated sales synergies of approximately 1% in 2024 [10] - The company has seen an 8.4% decline in the past month, compared to the industry's 5.2% decline [11] 分组6 - Applied Industrial Technologies, Inc. (AIT) currently has a Zacks Rank of 1 (Strong Buy) [12]