Smith Moore & CO. purchased a new stake in ABB Ltd (NYSE:ABB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,829 shares of the industrial products company’s stock, valued at approximately $210,000.
Other large investors have also bought and sold shares of the company. Boston Partners acquired a new position in shares of ABB in the fourth quarter worth about $85,209,000. Fisher Asset Management LLC raised its position in shares of ABB by 5.9% in the fourth quarter. Fisher Asset Management LLC now owns 9,173,754 shares of the industrial products company’s stock worth $246,040,000 after acquiring an additional 515,119 shares during the period. Point72 Asset Management L.P. raised its position 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 period. Wells Fargo & Company MN raised its position in shares of ABB by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,284,415 shares of the industrial products company’s stock worth $34,448,000 after acquiring an additional 329,492 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of ABB in the third quarter worth about $5,507,000. 4.92% of the stock is currently owned by institutional investors.
ABB Ltd (NYSE ABB) opened at $25.31 on Tuesday. ABB Ltd has a 1 year low of $22.04 and a 1 year high of $28.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.35. The firm has a market cap of $55,114.32, a PE ratio of 24.56, a P/E/G ratio of 2.70 and a beta of 1.06.
ABB (NYSE:ABB) last released its quarterly earnings results on Thursday, February 8th. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.08. ABB had a net margin of 6.45% and a return on equity of 18.11%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. analysts forecast that ABB Ltd will post 1.37 earnings per share for the current year.
A number of brokerages have weighed in on ABB. Robert W. Baird decreased their price objective on shares of ABB from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Goldman Sachs Group reiterated a “buy” rating on shares of ABB in a research report on Monday, January 22nd. Zacks Investment Research downgraded shares of ABB from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Berenberg Bank upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a research report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $26.00.
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ABB Company Profile
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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