Armis Advisers LLC Takes $319,000 Position in SPX Technologies, Inc. (NYSE:SPXC)

Armis Advisers LLC bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,191 shares of the company's stock, valued at approximately $319,000.

Several other institutional investors have also recently made changes to their positions in the stock. Private Advisor Group LLC increased its holdings in shares of SPX Technologies by 1.0% in the fourth quarter. Private Advisor Group LLC now owns 6,921 shares of the company's stock worth $1,007,000 after purchasing an additional 68 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in SPX Technologies by 1.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company's stock worth $632,000 after acquiring an additional 68 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of SPX Technologies by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,383 shares of the company's stock valued at $201,000 after acquiring an additional 73 shares in the last quarter. Bank of Montreal Can boosted its position in shares of SPX Technologies by 1.3% during the 4th quarter. Bank of Montreal Can now owns 6,316 shares of the company's stock valued at $919,000 after acquiring an additional 78 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of SPX Technologies by 2.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company's stock worth $493,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company's stock.

SPX Technologies Price Performance

Shares of SPXC stock traded up $0.62 during trading hours on Thursday, hitting $153.07. 191,854 shares of the company's stock were exchanged, compared to its average volume of 278,240. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $183.83. The company has a market capitalization of $7.15 billion, a PE ratio of 41.15, a PEG ratio of 1.33 and a beta of 1.21. The business's 50 day simple moving average is $138.76 and its 200-day simple moving average is $146.79. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.38 earnings per share for the quarter, topping 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 business had revenue of $482.60 million during the quarter, compared to the consensus estimate of $481.32 million. During the same period in the previous year, the firm posted $1.25 earnings per share. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPXC. Oppenheimer raised 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 research note on Wednesday, February 26th. Sidoti raised shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Finally, B. Riley assumed coverage on shares of SPX Technologies in a research report on Thursday, May 15th. They set a "buy" rating and a $195.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, SPX Technologies presently has a consensus rating of "Buy" and a consensus target price of $178.80.

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.