Peachtree Investment Advisors Inc. boosted its position in ABB Ltd (NYSE:ABB) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,895 shares of the industrial products company’s stock after buying an additional 2,075 shares during the period. Peachtree Investment Advisors Inc.’s holdings in ABB were worth $568,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Dorsey & Whitney Trust CO LLC grew its position in ABB by 24.9% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,011 shares of the industrial products company’s stock valued at $307,000 after buying an additional 2,598 shares during the last quarter. Earnest Partners LLC lifted its holdings in ABB by 19.1% in the third quarter. Earnest Partners LLC now owns 17,583 shares of the industrial products company’s stock valued at $415,000 after acquiring an additional 2,821 shares during the period. Sterling Capital Management LLC lifted its holdings in ABB by 23.4% in the second quarter. Sterling Capital Management LLC now owns 14,997 shares of the industrial products company’s stock valued at $326,000 after acquiring an additional 2,844 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in ABB by 15.2% in the third quarter. Rockefeller Capital Management L.P. now owns 24,439 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 3,226 shares during the period. Finally, Wetherby Asset Management Inc. lifted its holdings in ABB by 8.4% in the third quarter. Wetherby Asset Management Inc. now owns 42,300 shares of the industrial products company’s stock valued at $1,000,000 after acquiring an additional 3,285 shares during the period. Hedge funds and other institutional investors own 4.87% of the company’s stock.
A number of equities research analysts have commented on the company. Vertical Research downgraded ABB from a “hold” rating to a “sell” rating and set a $17.00 target price for the company. in a report on Thursday. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Morgan Stanley reissued a “hold” rating on shares of ABB in a report on Thursday, October 25th. Kepler Capital Markets reissued a “buy” rating on shares of ABB in a report on Wednesday, December 12th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of ABB in a report on Monday, October 29th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $22.87.
ABB (NYSE:ABB) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). The firm had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.46 billion. ABB had a return on equity of 19.99% and a net margin of 6.24%. As a group, equities analysts anticipate that ABB Ltd will post 1.27 earnings per share for the current year.
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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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