Armis Advisers LLC Makes New $319,000 Investment in SPX Technologies, Inc. (NYSE:SPXC)

Armis Advisers LLC purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,191 shares of the company's stock, valued at approximately $319,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in SPX Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,031,289 shares of the company's stock valued at $732,153,000 after buying an additional 89,770 shares during the period. Invesco Ltd. lifted its holdings in SPX Technologies by 3.4% in the fourth quarter. Invesco Ltd. now owns 1,150,781 shares of the company's stock valued at $167,462,000 after buying an additional 37,468 shares during the period. Conestoga Capital Advisors LLC lifted its holdings 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 buying an additional 160,535 shares during the period. Janus Henderson Group PLC lifted its holdings in SPX Technologies by 3.9% in the fourth quarter. Janus Henderson Group PLC now owns 723,708 shares of the company's stock valued at $105,321,000 after buying an additional 26,995 shares during the period. Finally, FMR LLC lifted its holdings in SPX Technologies by 8.5% in the fourth quarter. FMR LLC now owns 718,298 shares of the company's stock valued at $104,527,000 after buying an additional 56,175 shares during the period. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Stock Down 0.4%

Shares of NYSE SPXC traded down $0.55 during trading on Friday, hitting $152.20. 229,096 shares of the company traded hands, compared to its average volume of 278,943. The business's fifty day moving average is $139.29 and its 200 day moving average is $146.46. 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 $7.11 billion, a price-to-earnings ratio of 40.91, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85.

SPX Technologies (NYSE:SPXC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.22. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $482.60 million for the quarter, compared to analyst estimates of $481.32 million. During the same quarter in the prior year, the business earned $1.25 earnings per share. The business's quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPXC has been the topic of several recent analyst reports. B. Riley initiated coverage on shares of SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 target price on the stock. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Wednesday, February 26th. Finally, Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SPX Technologies presently has a consensus rating of "Buy" and a consensus target price of $178.80.

Insider Transactions at SPX Technologies

In other news, Director Rick D. Puckett sold 6,823 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $153.01, for a total transaction of $1,043,987.23. Following the completion of the sale, the director now directly owns 33,770 shares of the company's stock, valued at $5,167,147.70. The trade was a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.32% of the stock is currently owned by insiders.

SPX Technologies Profile

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.