NGAM Advisors L.P. increased its stake in ABB Ltd (NYSE:ABB) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 636,976 shares of the industrial products company’s stock after buying an additional 3,872 shares during the period. NGAM Advisors L.P.’s holdings in ABB were worth $15,861,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust acquired a new position in ABB during the first quarter worth $326,000. Bahl & Gaynor Inc. raised its position in ABB by 0.4% in the first quarter. Bahl & Gaynor Inc. now owns 13,355 shares of the industrial products company’s stock worth $313,000 after buying an additional 55 shares during the period. Atlantic Trust Group LLC raised its position in ABB by 0.6% in the first quarter. Atlantic Trust Group LLC now owns 80,550 shares of the industrial products company’s stock worth $1,884,000 after buying an additional 441 shares during the period. Aperio Group LLC raised its position in ABB by 4.8% in the second quarter. Aperio Group LLC now owns 834,910 shares of the industrial products company’s stock worth $20,789,000 after buying an additional 38,467 shares during the period. Finally, Anderson Hoagland & Co. raised its position in ABB by 19.9% in the first quarter. Anderson Hoagland & Co. now owns 24,095 shares of the industrial products company’s stock worth $564,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 4.05% of the company’s stock.
ABB Ltd (ABB) opened at 22.71 on Friday. The stock has a 50 day moving average of $23.93 and a 200 day moving average of $23.91. The company has a market cap of $48.46 billion, a P/E ratio of 21.88 and a beta of 1.06. ABB Ltd has a 52 week low of $20.26 and a 52 week high of $25.83.
ABB (NYSE:ABB) last issued its earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.55 billion. ABB had a net margin of 6.87% and a return on equity of 18.62%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS. On average, analysts expect that ABB Ltd will post $1.25 earnings per share for the current year.
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A number of research analysts have recently commented on the stock. Zacks Investment Research lowered shares of ABB from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Robert W. Baird reaffirmed an “outperform” rating and set a $28.00 price objective (up from $27.00) on shares of ABB in a report on Friday, June 16th. Morgan Stanley reaffirmed a “buy” rating on shares of ABB in a report on Thursday, April 27th. UBS AG reissued a “sell” rating on shares of ABB in a research note on Monday, July 24th. Finally, BidaskClub downgraded shares of ABB from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. ABB currently has a consensus 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.
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