Bank of New York Mellon Corp Sells 8,244 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Bank of New York Mellon Corp cut its position in shares of SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 342,469 shares of the company's stock after selling 8,244 shares during the quarter. Bank of New York Mellon Corp owned 0.74% of SPX Technologies worth $49,836,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of SPX Technologies by 247.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the company's stock worth $80,000 after acquiring an additional 357 shares during the last quarter. Assetmark Inc. grew its holdings in shares of SPX Technologies by 4.7% in the 3rd quarter. Assetmark Inc. now owns 1,745 shares of the company's stock worth $278,000 after acquiring an additional 78 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of SPX Technologies by 13.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,655 shares of the company's stock worth $583,000 after acquiring an additional 438 shares during the last quarter. Peregrine Asset Advisers Inc. acquired a new position in shares of SPX Technologies in the 3rd quarter worth $2,595,000. Finally, Victory Capital Management Inc. grew its holdings in shares of SPX Technologies by 196.9% in the 3rd quarter. Victory Capital Management Inc. now owns 218,993 shares of the company's stock worth $34,921,000 after acquiring an additional 145,225 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SPXC shares. Sidoti upgraded SPX Technologies from a "neutral" rating to a "buy" rating in a report on Wednesday, February 26th. Oppenheimer upgraded 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. Wolfe Research assumed coverage on SPX Technologies in a research report on Monday, November 25th. They issued an "outperform" rating and a $199.00 target price for the company. Finally, UBS Group decreased their target price on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $174.75.

SPX Technologies Stock Down 0.4 %

Shares of SPX Technologies stock traded down $0.61 during midday trading on Friday, hitting $137.06. The company's stock had a trading volume of 323,795 shares, compared to its average volume of 314,929. The firm has a market capitalization of $6.36 billion, a P/E ratio of 36.84, a PEG ratio of 1.33 and a beta of 1.26. The stock has a 50-day simple moving average of $146.34 and a 200-day simple moving average of $154.97. 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, Inc. has a 1-year low of $113.18 and a 1-year high of $183.83.

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.