Whittier Trust Co. Lowers Position in ABB Ltd (ABB)

Whittier Trust Co. reduced its position in shares of ABB Ltd (NYSE:ABB) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,262 shares of the industrial products company’s stock after selling 1,593 shares during the period. Whittier Trust Co.’s holdings in ABB were worth $231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Round Table Services LLC bought a new position in ABB during the first quarter worth approximately $236,000. Greylin Investment Mangement Inc. bought a new position in ABB during the first quarter worth approximately $459,000. Bank of The West bought a new position in ABB during the first quarter worth approximately $444,000. Portland Global Advisors LLC increased its position in ABB by 0.3% in the first quarter. Portland Global Advisors LLC now owns 79,915 shares of the industrial products company’s stock worth $1,870,000 after buying an additional 235 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of ABB during the first quarter valued at approximately $260,000. 4.05% of the stock is owned by institutional investors and hedge funds.

ABB Ltd (ABB) traded down 0.87% on Friday, hitting $22.71. The stock had a trading volume of 1,723,073 shares. ABB Ltd has a 1-year low of $20.26 and a 1-year high of $25.83. The stock has a market capitalization of $48.46 billion, a price-to-earnings ratio of 21.88 and a beta of 1.06. The company has a 50-day moving average price of $23.93 and a 200-day moving average price of $23.91.

ABB (NYSE:ABB) last posted its earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. ABB had a net margin of 6.87% and a return on equity of 18.62%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period last year, the firm posted $0.35 earnings per share. ABB’s quarterly revenue was down 2.6% on a year-over-year basis. Equities analysts predict that ABB Ltd will post $1.25 earnings per share for the current year.

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ABB has been the subject of several research analyst reports. Zacks Investment Research downgraded ABB from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Morgan Stanley reissued a “buy” rating on shares of ABB in a research note on Thursday, April 27th. BNP Paribas downgraded ABB from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Citigroup Inc. reissued a “sell” rating on shares of ABB in a research note on Friday, June 9th. Finally, Robert W. Baird reissued an “outperform” rating and set a $28.00 target price (up previously from $27.00) on shares of ABB in a research note on Friday, June 16th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.25.

ABB Company Profile

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.

Institutional Ownership by Quarter for ABB (NYSE:ABB)

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