Axiom Investors LLC DE Sells 611 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Axiom Investors LLC DE lessened its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 111,289 shares of the company’s stock after selling 611 shares during the period. Axiom Investors LLC DE’s holdings in SPX Technologies were worth $16,195,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC boosted its stake in shares of SPX Technologies by 1.0% in the 4th quarter. Private Advisor Group LLC now owns 6,921 shares of the company’s stock valued at $1,007,000 after purchasing an additional 68 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in SPX Technologies by 1.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company’s stock worth $632,000 after purchasing an additional 68 shares in the last quarter. CIBC Asset Management Inc boosted its stake in SPX Technologies by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,383 shares of the company’s stock valued at $201,000 after purchasing an additional 73 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of SPX Technologies by 2.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,386 shares of the company’s stock worth $493,000 after acquiring an additional 85 shares during the period. Finally, Signaturefd LLC increased its position in SPX Technologies by 15.9% during the fourth quarter. Signaturefd LLC now owns 628 shares of the company’s stock valued at $91,000 after acquiring an additional 86 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SPXC shares. UBS Group cut their price objective on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Oppenheimer upgraded 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. Finally, Sidoti raised SPX Technologies from a “neutral” rating to a “buy” rating 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, the company currently has an average rating of “Moderate Buy” and an average target price of $174.75.

SPX Technologies Price Performance

Shares of NYSE SPXC opened at $129.49 on Monday. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The firm has a 50-day simple moving average of $143.26 and a 200-day simple moving average of $153.12. SPX Technologies, Inc. has a 52 week low of $116.05 and a 52 week high of $183.83. The company has a quick ratio of 1.19, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

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.