Schwerin Boyle Capital Management Inc. Has $22.83 Million Position in SPX Technologies, Inc. (NYSE:SPXC)

Schwerin Boyle Capital Management Inc. trimmed its position in SPX Technologies, Inc. (NYSE:SPXC) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,900 shares of the company’s stock after selling 400 shares during the quarter. SPX Technologies accounts for 2.3% of Schwerin Boyle Capital Management Inc.’s holdings, making the stock its 13th largest holding. Schwerin Boyle Capital Management Inc. owned 0.34% of SPX Technologies worth $22,832,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SPXC. Norges Bank bought a new stake in shares of SPX Technologies during the 4th quarter valued at approximately $93,038,000. JPMorgan Chase & Co. boosted its position in SPX Technologies by 666.7% in the third quarter. JPMorgan Chase & Co. now owns 590,552 shares of the company’s stock valued at $94,169,000 after buying an additional 513,526 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of SPX Technologies during the fourth quarter worth $32,337,000. Conestoga Capital Advisors LLC increased its holdings in shares of SPX Technologies by 25.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 787,795 shares of the company’s stock worth $114,640,000 after buying an additional 160,535 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of SPX Technologies by 1,260.7% in the 4th quarter. Franklin Resources Inc. now owns 170,512 shares of the company’s stock valued at $24,813,000 after acquiring an additional 157,981 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Price Performance

SPX Technologies stock opened at $130.99 on Tuesday. The firm has a market cap of $6.13 billion, a P/E ratio of 35.21, a P/E/G ratio of 1.33 and a beta of 1.22. The stock’s 50 day moving average is $137.93 and its 200 day moving average is $150.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $183.83.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group lowered their target price on SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, Oppenheimer raised shares of SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.75.

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.