Cardinal Capital Management increased its holdings in shares of ABB Ltd (NYSE:ABB) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,653 shares of the industrial products company’s stock after buying an additional 6,077 shares during the quarter. Cardinal Capital Management’s holdings in ABB were worth $2,218,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Fisher Asset Management LLC increased its stake in shares of ABB by 4.5% in the third quarter. Fisher Asset Management LLC now owns 8,658,635 shares of the industrial products company’s stock valued at $214,301,000 after buying an additional 376,777 shares during the period. Northern Trust Corp increased its stake in shares of ABB by 1.3% in the second quarter. Northern Trust Corp now owns 4,514,363 shares of the industrial products company’s stock valued at $112,408,000 after buying an additional 59,101 shares during the period. Schafer Cullen Capital Management Inc. increased its stake in shares of ABB by 2.0% in the second quarter. Schafer Cullen Capital Management Inc. now owns 3,686,628 shares of the industrial products company’s stock valued at $91,797,000 after buying an additional 73,112 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of ABB by 14.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock valued at $86,119,000 after buying an additional 432,665 shares during the period. Finally, Folketrygdfondet increased its stake in shares of ABB by 41.0% in the second quarter. Folketrygdfondet now owns 2,787,278 shares of the industrial products company’s stock valued at $69,403,000 after buying an additional 810,000 shares during the period. Institutional investors and hedge funds own 4.45% of the company’s stock.
Several research firms recently commented on ABB. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of ABB in a research note on Monday, November 6th. BidaskClub cut ABB from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Robert W. Baird reaffirmed a “buy” rating and set a $29.00 target price on shares of ABB in a research note on Wednesday, October 4th. Zacks Investment Research cut ABB from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Finally, UBS AG reaffirmed a “sell” rating on shares of ABB in a research note on Monday, July 24th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.50.
ABB Ltd (NYSE:ABB) traded down $0.38 during mid-day trading on Friday, hitting $25.36. The stock had a trading volume of 1,269,800 shares, compared to its average volume of 1,927,041. ABB Ltd has a 52 week low of $20.26 and a 52 week high of $26.48. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $55,808.13, a price-to-earnings ratio of 20.59, a PEG ratio of 3.38 and a beta of 1.06.
ABB (NYSE:ABB) last posted its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. ABB had a return on equity of 18.65% and a net margin of 6.79%. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.55 billion. During the same quarter last year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. 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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