Gamco Investors INC. ET AL Sells 3,000 Shares of ABB Ltd (ABB)

Gamco Investors INC. ET AL trimmed its position in ABB Ltd (NYSE:ABB) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,600 shares of the industrial products company’s stock after selling 3,000 shares during the period. Gamco Investors INC. ET AL’s holdings in ABB were worth $606,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ABB. Point72 Asset Management L.P. grew its stake in shares of ABB by 512.5% in the third quarter. Point72 Asset Management L.P. now owns 508,400 shares of the industrial products company’s stock worth $12,583,000 after acquiring an additional 425,400 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of ABB by 92.9% in the third quarter. Oppenheimer & Co. Inc. now owns 117,841 shares of the industrial products company’s stock worth $2,917,000 after acquiring an additional 56,751 shares during the last quarter. Guardian Capital Advisors LP grew its stake in shares of ABB by 1.3% in the third quarter. Guardian Capital Advisors LP now owns 310,864 shares of the industrial products company’s stock worth $7,915,000 after acquiring an additional 4,118 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of ABB by 1.1% in the third quarter. Macquarie Group Ltd. now owns 3,877,508 shares of the industrial products company’s stock worth $95,968,000 after acquiring an additional 40,514 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of ABB by 10.2% in the third quarter. Bank of New York Mellon Corp now owns 115,036 shares of the industrial products company’s stock worth $2,847,000 after acquiring an additional 10,694 shares during the last quarter. 4.89% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on the company. Robert W. Baird cut their target price on ABB from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Berenberg Bank raised ABB from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Jefferies Group set a $20.00 target price on ABB and gave the stock a “sell” rating in a research note on Tuesday, November 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a research note on Friday, November 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $26.00.

ABB Ltd (NYSE:ABB) opened at $24.60 on Tuesday. The stock has a market capitalization of $52,685.99, a price-to-earnings ratio of 19.44, a PEG ratio of 2.56 and a beta of 1.06. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. ABB Ltd has a 1-year low of $22.04 and a 1-year high of $28.67.

ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.49 billion. ABB had a return on equity of 18.11% and a net margin of 6.45%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. analysts predict that ABB Ltd will post 1.38 EPS for the current year.

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About ABB

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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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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