JPMorgan Chase & Co. Has $94.17 Million Holdings in SPX Technologies, Inc. (NYSE:SPXC)

JPMorgan Chase & Co. raised its position in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 666.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590,552 shares of the company's stock after buying an additional 513,526 shares during the quarter. JPMorgan Chase & Co. owned 1.27% of SPX Technologies worth $94,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SPXC. American Century Companies Inc. raised its stake in SPX Technologies by 195.2% in the second quarter. American Century Companies Inc. now owns 14,492 shares of the company's stock valued at $2,060,000 after purchasing an additional 9,582 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of SPX Technologies by 15.7% during the 2nd quarter. Victory Capital Management Inc. now owns 73,768 shares of the company's stock worth $10,485,000 after acquiring an additional 10,010 shares during the period. Dana Investment Advisors Inc. acquired a new stake in shares of SPX Technologies during the 2nd quarter worth approximately $855,000. Mutual of America Capital Management LLC increased its stake in SPX Technologies by 212.5% in the third quarter. Mutual of America Capital Management LLC now owns 23,744 shares of the company's stock valued at $3,786,000 after acquiring an additional 16,145 shares during the last quarter. Finally, Barclays PLC raised its position in SPX Technologies by 299.0% during the third quarter. Barclays PLC now owns 84,567 shares of the company's stock valued at $13,485,000 after purchasing an additional 63,373 shares in the last quarter. 92.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on SPXC. Sidoti lowered SPX Technologies from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $187.00 to $175.00 in a research note on Friday, December 6th. Wolfe Research started coverage on shares of SPX Technologies in a report on Monday, November 25th. They set an "outperform" rating and a $199.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $164.00.

SPX Technologies Trading Up 2.6 %

Shares of SPX Technologies stock traded up $3.84 on Friday, hitting $149.99. The stock had a trading volume of 201,064 shares, compared to its average volume of 207,082. The stock has a 50 day moving average of $159.71 and a 200 day moving average of $155.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a twelve month low of $95.00 and a twelve month high of $183.83. The firm has a market capitalization of $6.95 billion, a P/E ratio of 40.32, a PEG ratio of 1.55 and a beta of 1.26.

SPX Technologies (NYSE:SPXC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. During the same quarter last year, the firm earned $1.06 earnings per share. The company's revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that SPX Technologies, Inc. will post 5.56 earnings per share for the current fiscal year.

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.