Oppenheimer Raises SPX Technologies (NYSE:SPXC) Price Target to $140.00

SPX Technologies (NYSE:SPXC - Free Report) had its price objective boosted by Oppenheimer from $134.00 to $140.00 in a research note issued to investors on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms have also issued reports on SPXC. StockNews.com lowered SPX Technologies from a buy rating to a hold rating in a research note on Friday, March 15th. UBS Group lifted their price objective on SPX Technologies from $90.00 to $126.00 and gave the company a neutral rating in a research note on Wednesday, March 27th.

SPX Technologies Stock Performance

Shares of SPX Technologies stock traded up $9.05 during trading hours on Friday, reaching $131.00. The company had a trading volume of 626,305 shares, compared to its average volume of 237,143. SPX Technologies has a one year low of $61.09 and a one year high of $132.79. The business has a fifty day simple moving average of $118.55 and a 200 day simple moving average of $102.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 1.08. The firm has a market cap of $6.06 billion, a PE ratio of 68.20, a price-to-earnings-growth ratio of 1.34 and a beta of 1.24.

SPX Technologies (NYSE:SPXC - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.19. SPX Technologies had a return on equity of 17.30% and a net margin of 5.16%. The firm had revenue of $465.20 million during the quarter, compared to analyst estimates of $454.05 million. During the same period last year, the company earned $0.93 earnings per share. The business's revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts anticipate that SPX Technologies will post 5.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 35,000 shares of SPX Technologies stock in a transaction dated Monday, March 4th. The stock was 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 owns 667,045 shares of the company's stock, valued at $76,936,970.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other SPX Technologies news, CEO Eugene Joseph Lowe III sold 35,000 shares of SPX Technologies stock in a transaction dated Monday, March 4th. The stock was 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 owns 667,045 shares of the company's stock, valued at $76,936,970.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John William Swann III sold 32,325 shares of the business's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total value of $3,801,743.25. Following the completion of the sale, the insider now directly owns 82,884 shares of the company's stock, valued at approximately $9,747,987.24. The disclosure for this sale can be found here. Insiders sold a total of 94,373 shares of company stock valued at $10,962,146 over the last 90 days. Insiders own 3.53% of the company's stock.

Institutional Trading of SPX Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SPXC. Vanguard Group Inc. boosted its stake in SPX Technologies by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,014,424 shares of the company's stock valued at $408,174,000 after purchasing an additional 50,178 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of SPX Technologies by 11.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,579,646 shares of the company's stock valued at $128,583,000 after buying an additional 165,544 shares during the period. FMR LLC lifted its holdings in shares of SPX Technologies by 23.0% during the 3rd quarter. FMR LLC now owns 1,338,942 shares of the company's stock valued at $108,990,000 after buying an additional 250,494 shares during the period. Artisan Partners Limited Partnership raised its holdings in SPX Technologies by 15.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 809,824 shares of the company's stock worth $81,800,000 after purchasing an additional 106,798 shares during the period. Finally, Northern Trust Corp raised its holdings in SPX Technologies by 0.3% in the 3rd quarter. Northern Trust Corp now owns 510,197 shares of the company's stock worth $41,530,000 after purchasing an additional 1,466 shares during the period. Hedge funds and other institutional investors own 92.82% 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.