ABB Ltd (ABB) Shares Sold by First Personal Financial Services

First Personal Financial Services cut its position in ABB Ltd (NYSE:ABB) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,895 shares of the industrial products company’s stock after selling 602 shares during the period. First Personal Financial Services’ holdings in ABB were worth $421,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABB. Wellington Management Group LLP raised its stake in shares of ABB by 93.8% in the first quarter. Wellington Management Group LLP now owns 20,250,046 shares of the industrial products company’s stock worth $473,851,000 after buying an additional 9,801,313 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of ABB by 1,084.0% in the second quarter. Fisher Asset Management LLC now owns 8,281,858 shares of the industrial products company’s stock worth $206,218,000 after buying an additional 7,582,360 shares during the last quarter. Schafer Cullen Capital Management Inc. raised its stake in shares of ABB by 0.4% in the first quarter. Schafer Cullen Capital Management Inc. now owns 3,613,516 shares of the industrial products company’s stock worth $84,556,000 after buying an additional 14,042 shares during the last quarter. Hamlin Capital Management LLC raised its stake in shares of ABB by 7.0% in the first quarter. Hamlin Capital Management LLC now owns 3,456,624 shares of the industrial products company’s stock worth $80,885,000 after buying an additional 226,870 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of ABB by 20.1% in the first quarter. Bank of America Corp DE now owns 2,135,832 shares of the industrial products company’s stock worth $49,978,000 after buying an additional 357,341 shares during the last quarter. 4.05% of the stock is currently owned by hedge funds and other institutional investors.

ABB Ltd (NYSE:ABB) opened at 22.91 on Friday. The stock has a market capitalization of $48.89 billion, a P/E ratio of 22.07 and a beta of 1.06. ABB Ltd has a 12-month low of $20.26 and a 12-month high of $25.83. The stock has a 50 day moving average price of $23.99 and a 200-day moving average price of $23.92.

ABB (NYSE:ABB) last issued its earnings results on Thursday, July 20th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. ABB had a net margin of 6.87% and a return on equity of 18.62%. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter last year, the firm earned $0.35 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts expect that ABB Ltd will post $1.25 EPS for the current year.

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ABB has been the topic of a number of research analyst reports. BidaskClub lowered ABB from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered ABB from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Citigroup Inc. reissued a “sell” rating on shares of ABB in a research note on Friday, June 9th. Morgan Stanley reissued a “buy” rating on shares of ABB in a research note on Thursday, June 22nd. Finally, BNP Paribas lowered ABB from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $24.25.

About ABB

ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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