Hsbc Holdings PLC purchased a new position in shares of ABB Ltd (NYSE:ABB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,973 shares of the industrial products company’s stock, valued at approximately $238,000.
Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in ABB by 1.5% in the fourth quarter. First Trust Advisors LP now owns 908,793 shares of the industrial products company’s stock valued at $24,374,000 after acquiring an additional 13,193 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in 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 valued at $34,448,000 after acquiring an additional 329,492 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in ABB in the fourth quarter valued at approximately $297,000. Raymond James Financial Services Advisors Inc. boosted its holdings in ABB by 2.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 120,145 shares of the industrial products company’s stock valued at $3,222,000 after acquiring an additional 3,380 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ABB by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 141,846 shares of the industrial products company’s stock valued at $3,805,000 after acquiring an additional 26,810 shares during the last quarter. Institutional investors own 5.69% of the company’s stock.
Shares of ABB opened at $22.47 on Friday, according to MarketBeat. ABB Ltd has a 52-week low of $21.92 and a 52-week high of $28.67. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $47.24 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16.
ABB (NYSE:ABB) last issued its quarterly earnings results on Thursday, April 19th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. ABB had a return on equity of 18.85% and a net margin of 5.87%. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. equities analysts predict that ABB Ltd will post 1.39 earnings per share for the current year.
ABB has been the topic of several analyst reports. Zacks Investment Research cut ABB from a “hold” rating to a “sell” rating in a report on Tuesday, April 10th. UBS Group upgraded ABB from a “sell” rating to a “neutral” rating in a report on Tuesday, April 17th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a report on Monday, June 11th. Deutsche Bank reiterated a “buy” rating on shares of ABB in a report on Friday, April 20th. Finally, ValuEngine lowered ABB from a “hold” rating to a “sell” rating in a research note on Tuesday, May 29th. Two investment 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 currently has an average rating of “Hold” and an average price target of $27.00.
ABB 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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