Alliancebernstein L.P. Has $19.56 Million Stock Position in IDEX Co. (NYSE:IEX)

Alliancebernstein L.P. cut its position in IDEX Co. (NYSE:IEX) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 93,440 shares of the industrial products company’s stock after selling 1,105 shares during the quarter. Alliancebernstein L.P.’s holdings in IDEX were worth $19,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of IEX. Benjamin Edwards Inc. bought a new position in shares of IDEX in the third quarter worth about $268,000. Royal London Asset Management Ltd. lifted its holdings in shares of IDEX by 2.6% during the third quarter. Royal London Asset Management Ltd. now owns 32,584 shares of the industrial products company’s stock worth $6,989,000 after buying an additional 833 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of IDEX by 34.0% in the third quarter. Quantinno Capital Management LP now owns 3,596 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 913 shares during the period. State Street Corp grew its stake in shares of IDEX by 0.5% in the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after acquiring an additional 15,077 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in IDEX by 9.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 21,958 shares of the industrial products company’s stock valued at $4,710,000 after purchasing an additional 1,986 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus upped their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. DA Davidson decreased their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Citigroup cut their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and an average target price of $241.71.

IDEX Price Performance

Shares of IEX stock opened at $162.93 on Tuesday. The stock’s fifty day simple moving average is $191.56 and its 200 day simple moving average is $208.20. IDEX Co. has a one year low of $153.36 and a one year high of $241.97. The firm has a market cap of $12.31 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating 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%. On average, analysts expect that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

IDEX 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.