Northern Trust Corp Boosts Stake in ABB Ltd (NYSE:ABB)

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Northern Trust Corp raised its position in ABB Ltd (NYSE:ABB) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,076,996 shares of the industrial products company’s stock after buying an additional 31,731 shares during the period. Northern Trust Corp owned 0.28% of ABB worth $121,723,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in ABB by 235.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,707,608 shares of the industrial products company’s stock worth $32,223,000 after buying an additional 1,198,771 shares during the period. Nuance Investments LLC boosted its holdings in ABB by 55.3% in the 2nd quarter. Nuance Investments LLC now owns 2,088,781 shares of the industrial products company’s stock worth $41,838,000 after buying an additional 744,147 shares during the period. Fisher Asset Management LLC boosted its holdings in ABB by 3.3% in the 2nd quarter. Fisher Asset Management LLC now owns 12,154,247 shares of the industrial products company’s stock worth $243,450,000 after buying an additional 393,695 shares during the period. Morningstar Investment Services LLC bought a new position in ABB in the 1st quarter worth approximately $6,070,000. Finally, First Trust Advisors LP boosted its holdings in ABB by 24.5% in the 1st quarter. First Trust Advisors LP now owns 1,565,087 shares of the industrial products company’s stock worth $29,533,000 after buying an additional 307,791 shares during the period. 4.33% of the stock is owned by hedge funds and other institutional investors.

NYSE:ABB traded up $0.22 during trading hours on Friday, hitting $20.45. The stock had a trading volume of 53,726 shares, compared to its average volume of 1,645,658. The company has a 50 day simple moving average of $18.70 and a two-hundred day simple moving average of $19.22. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.32 and a quick ratio of 1.09. ABB Ltd has a one year low of $17.71 and a one year high of $24.45. The firm has a market capitalization of $43.65 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 3.40 and a beta of 1.15.

ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.08. ABB had a net margin of 4.95% and a return on equity of 18.97%. The firm had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that ABB Ltd will post 0.86 earnings per share for the current year.

Several research analysts recently commented on ABB shares. ValuEngine raised shares of ABB from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Deutsche Bank reaffirmed a “buy” rating and issued a $23.00 price objective on shares of ABB in a report on Friday, July 26th. Zacks Investment Research raised shares of ABB from a “sell” rating to a “hold” rating and set a $21.00 price objective for the company in a report on Thursday. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of ABB in a report on Friday, September 6th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $21.00 price objective on shares of ABB in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.09.

About ABB

ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, 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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