Oberweis Asset Management Inc. Has $10.97 Million Stock Holdings in SPX Technologies, Inc. (NYSE:SPXC)

Oberweis Asset Management Inc. lifted its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 22.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,400 shares of the company's stock after acquiring an additional 13,600 shares during the quarter. Oberweis Asset Management Inc. owned approximately 0.16% of SPX Technologies worth $10,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SPXC. Norges Bank acquired a new position in SPX Technologies during the fourth quarter worth $93,038,000. JPMorgan Chase & Co. raised its stake in shares of SPX Technologies by 666.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company's stock valued at $94,169,000 after acquiring an additional 513,526 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in SPX Technologies in the 4th quarter worth approximately $32,337,000. First Trust Advisors LP boosted its position in SPX Technologies by 54.5% during the fourth quarter. First Trust Advisors LP now owns 553,320 shares of the company's stock worth $80,519,000 after purchasing an additional 195,153 shares during the period. Finally, Conestoga Capital Advisors LLC grew its holdings in SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company's stock valued at $114,640,000 after purchasing an additional 160,535 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. UBS Group decreased their price target on shares of SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Oppenheimer upgraded SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, SPX Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $174.75.

SPX Technologies Price Performance

Shares of SPX Technologies stock traded up $1.09 during mid-day trading on Tuesday, reaching $134.22. 40,727 shares of the stock were exchanged, compared to its average volume of 278,889. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. SPX Technologies, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $183.83. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. The firm has a 50-day simple moving average of $133.64 and a 200 day simple moving average of $148.27.

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.