Alliancebernstein L.P. Lowers Stock Position in IDEX Corporation $IEX

Key Points

• Alliancebernstein L.P. has reduced its stake in IDEX Corporation by 2.8%, now owning around 0.12% of the company valued at approximately $16.4 million.
• IDEX Corporation reported $2.07 earnings per share for the last quarter, exceeding estimates, with a 7.2% year-over-year revenue increase totaling $865.4 million.
• The company recently announced a quarterly dividend of $0.71 per share, resulting in an annualized yield of 1.7% and a payout ratio of 45.88%.

Alliancebernstein L.P. reduced its position in shares of IDEX Corporation (NYSE:IEX - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,835 shares of the industrial products company's stock after selling 2,605 shares during the period. Alliancebernstein L.P. owned about 0.12% of IDEX worth $16,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of IEX. MassMutual Private Wealth & Trust FSB raised its stake in shares of IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 64 shares in the last quarter. UMB Bank n.a. raised its stake in shares of IDEX by 63.5% in the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 87 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of IDEX in the first quarter valued at $56,000. Federated Hermes Inc. raised its stake in shares of IDEX by 42.9% in the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock valued at $60,000 after acquiring an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of IDEX by 970.7% in the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock valued at $79,000 after acquiring an additional 398 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer cut their price target on IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus cut their price target on IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Citigroup raised their price target on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada cut their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Finally, DA Davidson set a $180.00 price target on IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $201.71.

IDEX Stock Performance

IEX stock traded down $4.37 during trading on Wednesday, hitting $159.47. The company had a trading volume of 1,033,300 shares, compared to its average volume of 653,956. The firm has a market cap of $12.01 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The firm has a 50-day moving average price of $168.71 and a 200-day moving average price of $175.33. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.07. The firm had revenue of $865.40 million for the quarter, compared to analysts' expectations of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 EPS. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. On average, analysts expect that IDEX Corporation will post 8.26 earnings per share for the current year.

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.