Raymond James Trust N.A. purchased a new stake in ABB Ltd (NYSE:ABB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,748 shares of the industrial products company’s stock, valued at approximately $216,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of ABB. Financial Architects Inc increased its holdings in shares of ABB by 2,404.2% in the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock valued at $104,000 after buying an additional 4,015 shares in the last quarter. Ledyard National Bank increased its holdings in shares of ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock valued at $108,000 after buying an additional 150 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of ABB by 296.7% in the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock valued at $120,000 after buying an additional 3,590 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in shares of ABB in the second quarter valued at $120,000. Finally, Huntington National Bank increased its holdings in shares of ABB by 40.3% in the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock valued at $137,000 after buying an additional 1,575 shares in the last quarter. 4.45% of the stock is currently owned by institutional investors.
Shares of ABB Ltd (ABB) opened at 25.36 on Friday. ABB Ltd has a 52 week low of $20.26 and a 52 week high of $25.83. The firm’s 50-day moving average is $24.86 and its 200 day moving average is $24.40. The firm has a market capitalization of $54.12 billion, a P/E ratio of 24.43 and a beta of 1.06.
ABB (NYSE:ABB) last posted its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.55 billion. ABB had a net margin of 6.79% and a return on equity of 18.82%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. Equities research analysts forecast that ABB Ltd will post $1.22 EPS for the current fiscal year.
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Several research analysts have issued reports on ABB shares. Morgan Stanley cut ABB from an “overweight” rating to an “equal weight” rating in a report on Friday, July 21st. UBS AG reaffirmed a “sell” rating on shares of ABB in a report on Monday, July 24th. BidaskClub cut ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Robert W. Baird set a $28.00 price target on ABB and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research cut ABB from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. ABB presently has a consensus rating of “Hold” and a consensus price target of $23.50.
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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