SPX Technologies (NYSE:SPXC) Hits New 1-Year High at $142.97

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $142.97 and last traded at $142.73, with a volume of 18566 shares. The stock had previously closed at $140.12.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Oppenheimer upped their price target on shares of SPX Technologies from $134.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, May 3rd. William Blair reaffirmed an "outperform" rating on shares of SPX Technologies in a report on Friday, May 3rd. StockNews.com downgraded shares of SPX Technologies from a "buy" rating to a "hold" rating in a report on Saturday, May 11th. Finally, UBS Group upped their price objective on shares of SPX Technologies from $126.00 to $142.00 and gave the stock a "neutral" rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $141.00.

SPX Technologies Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 1.12. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 70.14, a P/E/G ratio of 1.45 and a beta of 1.24. The stock's fifty day simple moving average is $123.72 and its two-hundred day simple moving average is $107.44.

SPX Technologies (NYSE:SPXC - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.19. SPX Technologies had a net margin of 5.32% and a return on equity of 18.18%. The company had revenue of $465.20 million during the quarter, compared to the consensus estimate of $454.05 million. During the same period in the prior year, the company earned $0.93 EPS. SPX Technologies's revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts anticipate that SPX Technologies, Inc. will post 5.36 EPS for the current year.

Insider Buying and Selling at SPX Technologies

In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 35,000 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the completion of the sale, the chief executive officer now directly owns 667,045 shares of the company's stock, valued at $76,936,970.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John William Swann III sold 32,325 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $117.61, for a total value of $3,801,743.25. Following the transaction, the insider now owns 82,884 shares in the company, valued at approximately $9,747,987.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $115.34, for a total value of $4,036,900.00. Following the completion of the transaction, the chief executive officer now owns 667,045 shares in the company, valued at approximately $76,936,970.30. The disclosure for this sale can be found here. In the last three months, insiders sold 94,373 shares of company stock valued at $10,962,146. 3.53% of the stock is owned by insiders.

Hedge Funds Weigh In On SPX Technologies

A number of large investors have recently made changes to their positions in the business. Raymond James & Associates increased its holdings in SPX Technologies by 133.1% in the third quarter. Raymond James & Associates now owns 9,832 shares of the company's stock worth $800,000 after buying an additional 5,614 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of SPX Technologies by 17.1% in the third quarter. Teacher Retirement System of Texas now owns 22,646 shares of the company's stock valued at $1,843,000 after acquiring an additional 3,305 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of SPX Technologies by 7.7% in the third quarter. Assenagon Asset Management S.A. now owns 145,127 shares of the company's stock valued at $11,813,000 after acquiring an additional 10,368 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of SPX Technologies in the third quarter valued at approximately $2,189,000. Finally, Arizona State Retirement System boosted its position in shares of SPX Technologies by 1.4% in the third quarter. Arizona State Retirement System now owns 12,966 shares of the company's stock valued at $1,055,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Company 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.