Ameriprise Financial Inc. grew its stake in ABB Ltd (NYSE:ABB) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 750,117 shares of the industrial products company’s stock after purchasing an additional 117,555 shares during the quarter. Ameriprise Financial Inc.’s holdings in ABB were worth $18,504,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC raised its stake in ABB by 4.5% during the third quarter. Fisher Asset Management LLC now owns 8,658,635 shares of the industrial products company’s stock worth $214,301,000 after acquiring 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 purchasing 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 purchasing 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 purchasing 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 purchasing an additional 810,000 shares during the period. Institutional investors and hedge funds own 4.76% of the company’s stock.
Shares of ABB Ltd (NYSE:ABB) opened at $26.00 on Tuesday. The firm has a market cap of $56,805.48, a P/E ratio of 20.96, a P/E/G ratio of 3.41 and a beta of 1.05. ABB Ltd has a 1-year low of $20.80 and a 1-year 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.
ABB (NYSE:ABB) last issued its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.55 billion. ABB had a net margin of 6.79% and a return on equity of 18.65%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. equities research analysts predict that ABB Ltd will post 1.24 EPS for the current fiscal year.
Several brokerages have commented on ABB. Goldman Sachs Group restated a “buy” rating on shares of ABB in a research note on Monday. Zacks Investment Research lowered shares of ABB from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Jefferies Group set a $20.00 price objective on shares of ABB and gave the company a “sell” rating in a report on Tuesday, November 28th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of ABB in a report on Friday, November 24th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $29.00 price objective on shares of ABB in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. ABB currently has an average rating of “Hold” and an average target price of $24.50.
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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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