Oppenheimer & Co. Inc. boosted its holdings in shares of ABB Ltd (NYSE:ABB) by 0.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,090 shares of the industrial products company’s stock after acquiring an additional 441 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ABB were worth $1,521,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ABB. Financial Architects Inc lifted its holdings in shares of ABB by 2,404.2% during the 2nd quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock valued at $104,000 after buying an additional 4,015 shares during the last quarter. Ledyard National Bank lifted its holdings in shares of ABB by 3.6% during the 2nd quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock valued at $108,000 after buying an additional 150 shares during the last quarter. Huntington National Bank lifted its holdings in shares of 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 buying an additional 1,575 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of 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 buying an additional 2,721 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of ABB during the 1st quarter valued at about $206,000. Institutional investors and hedge funds own 4.43% of the company’s stock.
ABB Ltd (NYSE ABB) traded down 0.20% during mid-day trading on Friday, hitting $24.38. The stock had a trading volume of 109,267 shares. The stock’s 50 day moving average price is $23.37 and its 200 day moving average price is $23.97. The firm has a market capitalization of $52.03 billion, a price-to-earnings ratio of 23.49 and a beta of 1.07. ABB Ltd has a one year low of $20.26 and a one year high of $25.83.
ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). The business had revenue of $8.45 billion for 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 business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share. Analysts forecast that ABB Ltd will post $1.25 EPS for the current year.
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ABB has been the subject of several research reports. BidaskClub lowered ABB from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Robert W. Baird set a $28.00 price objective on ABB and gave the company a “buy” rating in a research note on Thursday, August 24th. Citigroup Inc. reissued a “sell” rating on shares of ABB in a research note on Friday, June 9th. Morgan Stanley reissued a “buy” rating on shares of ABB in a research note on Thursday, June 22nd. Finally, BNP Paribas downgraded ABB from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price 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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