Macquarie Group Ltd. trimmed its position in ABB Group (NYSE:ABB) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,826,771 shares of the industrial products company’s stock after selling 50,737 shares during the period. Macquarie Group Ltd. owned approximately 0.18% of ABB Group worth $102,634,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. raised its holdings in shares of ABB Group by 512.5% during 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 purchasing an additional 425,400 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of ABB Group by 92.9% during the third quarter. Oppenheimer & Co. Inc. now owns 117,841 shares of the industrial products company’s stock worth $2,917,000 after purchasing an additional 56,751 shares during the last quarter. Guardian Capital Advisors LP raised its holdings in shares of ABB Group by 1.3% during the third quarter. Guardian Capital Advisors LP now owns 310,864 shares of the industrial products company’s stock worth $7,915,000 after purchasing an additional 4,118 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ABB Group by 10.2% during 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 purchasing an additional 10,694 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in shares of ABB Group during the third quarter worth $1,238,000. 5.45% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Robert W. Baird reduced their target price on shares of ABB Group from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Jefferies Group reissued a “sell” rating and set a $23.00 target price on shares of ABB Group in a report on Wednesday, March 28th. Zacks Investment Research lowered shares of ABB Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Berenberg Bank upgraded shares of ABB Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase restated a “neutral” rating on shares of ABB Group in a research report on Wednesday, January 10th. Three 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 has an average rating of “Hold” and a consensus price target of $27.00.
Shares of NYSE ABB traded down $0.37 during trading on Friday, hitting $22.32. The company had a trading volume of 2,192,111 shares, compared to its average volume of 1,989,439. ABB Group has a fifty-two week low of $21.92 and a fifty-two week high of $28.67. The firm has a market cap of $48,524.97, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 2.36 and a beta of 1.16. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.44.
ABB Group (NYSE:ABB) last announced its earnings results on Thursday, February 8th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.08. ABB Group had a net margin of 6.45% and a return on equity of 18.11%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities research analysts anticipate that ABB Group will post 1.41 EPS for the current fiscal year.
The business also recently announced an annual dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Thursday, April 5th will be given a $0.8261 dividend. This is a positive change from ABB Group’s previous annual dividend of $0.75. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a dividend yield of 3.44%. ABB Group’s dividend payout ratio (DPR) is 41.60%.
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ABB Group Company Profile
ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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