Deutsche Bank AG Sells 4,330 Shares of SPX Technologies, Inc. $SPXC

Key Points

• Deutsche Bank AG reduced its stake in SPX Technologies by 7.4%, owning 53,973 shares valued at approximately $6.95 million as of its latest SEC filing.
• SPX Technologies reported earnings per share of $1.65 for the last quarter, exceeding analysts' expectations of $1.45, with revenues of $552.40 million.
• Institutional investors own 92.82% of SPX Technologies, indicating strong institutional support for the company.

Deutsche Bank AG trimmed its holdings in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,973 shares of the company's stock after selling 4,330 shares during the period. Deutsche Bank AG owned about 0.12% of SPX Technologies worth $6,951,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of SPX Technologies during the 1st quarter worth $27,000. Eastern Bank purchased a new stake in SPX Technologies in the 1st quarter worth about $38,000. Skandinaviska Enskilda Banken AB publ increased its holdings in SPX Technologies by 211.3% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 604 shares of the company's stock worth $78,000 after acquiring an additional 410 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in SPX Technologies by 18.5% in the 1st quarter. Farther Finance Advisors LLC now owns 628 shares of the company's stock worth $83,000 after acquiring an additional 98 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in SPX Technologies by 28.2% in the 1st quarter. Signaturefd LLC now owns 805 shares of the company's stock worth $104,000 after acquiring an additional 177 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SPXC. B. Riley began coverage on SPX Technologies in a report on Thursday, May 15th. They issued a "buy" rating and a $195.00 price objective for the company. Wall Street Zen raised SPX Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Oppenheimer lifted their price objective on SPX Technologies from $170.00 to $197.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, UBS Group lifted their price objective on SPX Technologies from $182.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, SPX Technologies presently has an average rating of "Buy" and an average price target of $195.20.

SPX Technologies Price Performance

SPXC stock traded down $2.5060 during mid-day trading on Wednesday, reaching $185.4940. 168,672 shares of the company traded hands, compared to its average volume of 323,691. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.28. The company has a market capitalization of $8.67 billion, a P/E ratio of 41.71, a P/E/G ratio of 1.60 and a beta of 1.27. SPX Technologies, Inc. has a 52-week low of $115.00 and a 52-week high of $209.38. The company has a fifty day moving average price of $176.17 and a 200-day moving average price of $153.83.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.20. The business had revenue of $552.40 million during the quarter, compared to analyst estimates of $546.03 million. SPX Technologies had a return on equity of 19.59% and a net margin of 10.27%.The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS. SPX Technologies has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts anticipate that SPX Technologies, Inc. will post 5.57 earnings per share for the current year.

Insider Activity

In other news, Director Rick D. Puckett sold 6,823 shares of SPX Technologies stock in a transaction dated Thursday, May 29th. The stock was 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 owned 33,770 shares in the company, valued at approximately $5,167,147.70. This trade represents a 16.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.32% of the company's stock.

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.