Schwerin Boyle Capital Management Inc. Sells 400 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Schwerin Boyle Capital Management Inc. lowered its stake in SPX Technologies, Inc. (NYSE:SPXC) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 156,900 shares of the company’s stock after selling 400 shares during the quarter. SPX Technologies comprises 2.3% of Schwerin Boyle Capital Management Inc.’s investment portfolio, making the stock its 13th largest holding. Schwerin Boyle Capital Management Inc.’s holdings in SPX Technologies were worth $22,832,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in SPX Technologies in the fourth quarter valued at $93,038,000. JPMorgan Chase & Co. raised its stake in SPX Technologies by 666.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock worth $94,169,000 after buying an additional 513,526 shares during the period. Raymond James Financial Inc. bought a new position in SPX Technologies in the fourth quarter worth approximately $32,337,000. Conestoga Capital Advisors LLC grew its stake in SPX Technologies by 25.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock valued at $114,640,000 after acquiring an additional 160,535 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of SPX Technologies by 1,260.7% during the fourth quarter. Franklin Resources Inc. now owns 170,512 shares of the company’s stock valued at $24,813,000 after acquiring an additional 157,981 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

SPX Technologies Stock Down 0.8 %

SPXC opened at $130.99 on Tuesday. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $183.83. The firm has a market capitalization of $6.13 billion, a P/E ratio of 35.21, a PEG ratio of 1.33 and a beta of 1.22. The company’s 50-day moving average is $137.93 and its 200 day moving average is $150.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19.

Analysts Set New Price Targets

Several analysts recently issued reports on SPXC shares. Oppenheimer raised shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Wednesday, February 26th. UBS Group lowered their target price on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.75.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.