Bradley Foster & Sargent Inc. CT bought a new position in shares of ABB Ltd (NYSE:ABB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,174 shares of the industrial products company’s stock, valued at approximately $204,000.
Other institutional investors have also bought and sold shares of the company. Financial Architects Inc boosted its holdings in shares of ABB by 2,404.2% in the 2nd quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 4,015 shares in the last quarter. Ledyard National Bank boosted its holdings in shares of ABB by 3.6% in the 2nd quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 150 shares in the last quarter. Huntington National Bank boosted its holdings in ABB by 40.3% during the 2nd quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 1,575 shares during the period. IFP Advisors Inc boosted its holdings in ABB by 71.0% during the 2nd quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 2,721 shares during the period. Finally, Sawtooth Solutions LLC purchased a new stake in ABB during the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 4.42% of the company’s stock.
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ABB has been the subject of several analyst reports. Citigroup Inc. restated a “sell” rating on shares of ABB in a report on Friday, June 9th. Zacks Investment Research upgraded ABB from a “sell” rating to a “hold” rating and set a $28.00 target price for the company in a report on Monday, June 12th. Morgan Stanley restated a “buy” rating on shares of ABB in a report on Tuesday, June 13th. Robert W. Baird restated an “outperform” rating and set a $28.00 target price (up from $27.00) on shares of ABB in a report on Friday, June 16th. Finally, UBS AG reaffirmed a “sell” rating on shares of ABB in a research report on Monday, July 24th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $24.25.
ABB Ltd (NYSE:ABB) opened at 24.73 on Friday. The company has a market cap of $52.77 billion, a price-to-earnings ratio of 23.82 and a beta of 1.07. ABB Ltd has a 12 month low of $20.26 and a 12 month high of $25.83. The stock has a 50 day moving average price of $23.46 and a 200 day moving average price of $24.02.
ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.55 billion. ABB had a net margin of 6.87% and a return on equity of 18.62%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. Analysts anticipate that ABB Ltd will post $1.25 earnings per share for the current fiscal year.
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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