374,210 Shares in ABB Ltd (ABB) Acquired by Pennsylvania Trust Co

Pennsylvania Trust Co bought a new stake in ABB Ltd (NYSE:ABB) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 374,210 shares of the industrial products company’s stock, valued at approximately $29,914,000. ABB comprises approximately 0.9% of Pennsylvania Trust Co’s investment portfolio, making the stock its 29th largest position.

Several other hedge funds have also recently made changes to their positions in the company. Steinberg Global Asset Management purchased a new stake in shares of ABB in the first quarter valued at about $657,000. Portland Global Advisors LLC raised its holdings in shares of ABB by 3.1% in the first quarter. Portland Global Advisors LLC now owns 119,386 shares of the industrial products company’s stock valued at $2,253,000 after purchasing an additional 3,635 shares during the last quarter. Scout Investments Inc. raised its holdings in shares of ABB by 7.3% in the first quarter. Scout Investments Inc. now owns 156,652 shares of the industrial products company’s stock valued at $2,956,000 after purchasing an additional 10,627 shares during the last quarter. CAPROCK Group Inc. raised its holdings in shares of ABB by 51.1% in the first quarter. CAPROCK Group Inc. now owns 29,312 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 9,918 shares during the last quarter. Finally, Ledyard National Bank raised its holdings in shares of ABB by 107.2% in the first quarter. Ledyard National Bank now owns 595,165 shares of the industrial products company’s stock valued at $11,231,000 after purchasing an additional 307,877 shares during the last quarter. Institutional investors own 4.33% of the company’s stock.

NYSE ABB traded up $0.15 during trading hours on Tuesday, reaching $19.95. 67,869 shares of the company were exchanged, compared to its average volume of 1,876,927. ABB Ltd has a 1 year low of $18.05 and a 1 year high of $24.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.19. The company has a market capitalization of $42.34 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.06.

ABB (NYSE:ABB) last issued its earnings results on Thursday, February 28th. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.10). The business had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $9.43 billion. ABB had a return on equity of 19.81% and a net margin of 6.36%. ABB’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, analysts forecast that ABB Ltd will post 1.01 EPS for the current fiscal year.

ABB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. restated a “sell” rating on shares of ABB in a report on Monday, April 8th. Berenberg Bank downgraded shares of ABB from a “hold” rating to a “sell” rating in a report on Monday, January 28th. Zacks Investment Research downgraded shares of ABB from a “hold” rating to a “strong sell” rating in a report on Monday, March 11th. Royal Bank of Canada restated a “hold” rating on shares of ABB in a report on Thursday, February 28th. Finally, Vertical Research downgraded shares of ABB from a “hold” rating to a “sell” rating and set a $17.00 price objective for the company. in a report on Thursday, January 10th. Five analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $21.84.

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ABB Profile

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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