Advisor Partners LLC acquired a new stake in ABB Ltd (NYSE:ABB) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 13,892 shares of the industrial products company’s stock, valued at approximately $389,000.
A number of other large investors have also recently modified their holdings of the business. Bank of Nova Scotia Trust Co. acquired a new stake in shares of ABB during the third quarter worth approximately $113,000. Cubist Systematic Strategies LLC grew its position in shares of ABB by 296.7% during the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock worth $120,000 after buying an additional 3,590 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of ABB during the second quarter worth approximately $120,000. Quantbot Technologies LP acquired a new stake in shares of ABB during the third quarter worth approximately $184,000. Finally, Round Table Services LLC acquired a new stake in shares of ABB during the fourth quarter worth approximately $203,000. 4.73% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on ABB. Goldman Sachs Group reissued a “buy” rating on shares of ABB in a research report on Monday, January 22nd. Bank of America downgraded shares of ABB from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 9th. Berenberg Bank raised shares of ABB from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Robert W. Baird reissued a “buy” rating and set a $29.00 price target on shares of ABB in a research report on Friday, December 15th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a research report on Friday, November 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. ABB has a consensus rating of “Hold” and an average price target of $26.67.
ABB (NYSE:ABB) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.55 billion. ABB had a net margin of 6.79% and a return on equity of 18.65%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. equities analysts forecast that ABB Ltd will post 1.22 EPS for the current year.
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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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