Eagle Ridge Investment Management increased its stake in shares of ABB Ltd (NYSE:ABB) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,494 shares of the industrial products company’s stock after purchasing an additional 5,133 shares during the period. Eagle Ridge Investment Management’s holdings in ABB were worth $3,353,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABB. Bank of New York Mellon Corp raised its holdings in shares of ABB by 28.9% during the first quarter. Bank of New York Mellon Corp now owns 98,502 shares of the industrial products company’s stock valued at $2,304,000 after purchasing an additional 22,070 shares during the last quarter. JPMorgan Chase & Co. grew its position in ABB by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 45,571 shares of the industrial products company’s stock valued at $1,067,000 after buying an additional 13,475 shares during the period. Alliancebernstein L.P. bought a new stake in ABB during the first quarter valued at approximately $2,884,000. Morgan Stanley grew its position in ABB by 24.1% during the first quarter. Morgan Stanley now owns 1,433,889 shares of the industrial products company’s stock valued at $33,554,000 after buying an additional 278,188 shares during the period. Finally, Renaissance Technologies LLC grew its position in ABB by 202.1% during the first quarter. Renaissance Technologies LLC now owns 890,537 shares of the industrial products company’s stock valued at $20,839,000 after buying an additional 595,737 shares during the period. 4.44% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on ABB. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of ABB in a research report on Monday, November 6th. BidaskClub lowered shares of ABB from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Robert W. Baird restated a “buy” rating and set a $29.00 target price on shares of ABB in a research report on Wednesday, October 4th. Zacks Investment Research lowered shares of ABB from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Finally, UBS AG reiterated a “sell” rating on shares of ABB in a research report on Monday, July 24th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. ABB currently has a consensus rating of “Hold” and an average price target of $23.50.
ABB Ltd (ABB) traded up $0.12 on Tuesday, hitting $25.48. 1,452,000 shares of the company’s stock were exchanged, compared to its average volume of 1,924,872. ABB Ltd has a fifty-two week low of $20.26 and a fifty-two week high of $26.48. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $54,984.23, a price-to-earnings ratio of 20.29, a P/E/G ratio of 3.33 and a beta of 1.06.
ABB (NYSE:ABB) last released its earnings results on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. ABB had a net margin of 6.79% and a return on equity of 18.65%. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. equities research analysts expect that ABB Ltd will post 1.23 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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