US Bancorp DE Boosts Stake in ABB Ltd (ABB)

US Bancorp DE increased its holdings in ABB Ltd (NYSE:ABB) by 3.3% during the first quarter, HoldingsChannel.com reports. The firm owned 283,199 shares of the industrial products company’s stock after acquiring an additional 9,075 shares during the quarter. US Bancorp DE’s holdings in ABB were worth $6,723,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Columbia Asset Management raised its position in ABB by 55.6% in the 4th quarter. Columbia Asset Management now owns 18,740 shares of the industrial products company’s stock worth $503,000 after purchasing an additional 6,700 shares during the period. Keeler Thomas Management LLC purchased a new position in ABB in the 4th quarter worth $348,000. Smith Moore & CO. purchased a new position in ABB in the 4th quarter worth $210,000. Baird Financial Group Inc. raised its position in ABB by 53.6% in the 4th quarter. Baird Financial Group Inc. now owns 2,776,457 shares of the industrial products company’s stock worth $74,465,000 after purchasing an additional 968,442 shares during the period. Finally, Pinnacle Associates Ltd. raised its position in ABB by 4.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 79,143 shares of the industrial products company’s stock worth $2,123,000 after purchasing an additional 3,380 shares during the period. Institutional investors own 5.68% of the company’s stock.

ABB has been the topic of a number of analyst reports. Deutsche Bank reiterated a “buy” rating on shares of ABB in a research report on Friday, April 20th. Zacks Investment Research upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Tuesday, April 17th. JPMorgan Chase reiterated a “neutral” rating on shares of ABB in a research report on Thursday, May 3rd. Robert W. Baird decreased their target price on shares of ABB from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Finally, UBS upgraded shares of ABB from a “sell” rating to a “neutral” rating in a research report on Tuesday, April 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.00.

ABB opened at $24.01 on Wednesday, Marketbeat Ratings reports. ABB Ltd has a 12-month low of $21.92 and a 12-month high of $28.67. The stock has a market capitalization of $52.40 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 2.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.15.

ABB (NYSE:ABB) last released its quarterly earnings data on Thursday, April 19th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. ABB had a net margin of 5.87% and a return on equity of 18.85%. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.40 billion. During the same quarter in the previous year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. equities analysts predict that ABB Ltd will post 1.39 EPS for the current year.

The company also recently disclosed an annual dividend, which was paid on Tuesday, May 15th. Shareholders of record on Thursday, April 5th were given a $0.8261 dividend. This is a boost from ABB’s previous annual dividend of $0.75. The ex-dividend date of this dividend was Wednesday, April 4th. This represents a dividend yield of 3.44%. ABB’s payout ratio is presently 40.00%.

ABB 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.

Want to see what other hedge funds are holding ABB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ABB Ltd (NYSE:ABB).

Institutional Ownership by Quarter for ABB (NYSE:ABB)

Receive News & Ratings for ABB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply