SPX Technologies, Inc. (NYSE:SPXC) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. decreased its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,195,672 shares of the company's stock after selling 12,399 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.58% of SPX Technologies worth $173,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its stake in shares of SPX Technologies by 61.4% in the fourth quarter. Hsbc Holdings PLC now owns 11,112 shares of the company's stock valued at $1,620,000 after purchasing an additional 4,229 shares during the period. TD Waterhouse Canada Inc. raised its position in SPX Technologies by 3.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 69,214 shares of the company's stock worth $10,073,000 after acquiring an additional 2,354 shares during the last quarter. Tower Research Capital LLC TRC raised its position in SPX Technologies by 16.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,910 shares of the company's stock worth $569,000 after acquiring an additional 546 shares during the last quarter. MetLife Investment Management LLC raised its position in SPX Technologies by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 27,069 shares of the company's stock worth $3,939,000 after acquiring an additional 1,531 shares during the last quarter. Finally, First Trust Advisors LP raised 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 acquiring an additional 195,153 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company's stock.

SPX Technologies Trading Up 0.4 %

SPXC traded up $0.59 during trading on Tuesday, hitting $133.72. 31,166 shares of the company's stock were exchanged, compared to its average volume of 278,845. 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, Inc. has a 1 year low of $115.00 and a 1 year high of $183.83. The stock has a 50 day moving average price of $133.64 and a 200 day moving average price of $148.27. The firm has a market cap of $6.26 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22.

Analysts Set New Price Targets

SPXC has been the subject of a number of research reports. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research report on Wednesday, February 26th. Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Finally, UBS Group lowered 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.75.

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.