Marathon Capital Management increased its holdings in shares of ABB Ltd (NYSE:ABB) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,682 shares of the industrial products company’s stock after buying an additional 6,550 shares during the period. ABB accounts for about 1.0% of Marathon Capital Management’s investment portfolio, making the stock its 13th biggest holding. Marathon Capital Management’s holdings in ABB were worth $2,377,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ABB. Geode Capital Management LLC boosted its holdings in shares of ABB by 28.8% in the fourth quarter. Geode Capital Management LLC now owns 87,840 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 19,660 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of ABB in the fourth quarter valued at approximately $530,000. MML Investors Services LLC boosted its holdings in shares of ABB by 15.3% in the fourth quarter. MML Investors Services LLC now owns 11,375 shares of the industrial products company’s stock valued at $216,000 after acquiring an additional 1,509 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of ABB by 133.3% in the fourth quarter. Deutsche Bank AG now owns 329,738 shares of the industrial products company’s stock valued at $6,267,000 after acquiring an additional 188,378 shares in the last quarter. Finally, First Hawaiian Bank boosted its holdings in shares of ABB by 22.7% in the first quarter. First Hawaiian Bank now owns 9,632 shares of the industrial products company’s stock valued at $181,000 after acquiring an additional 1,784 shares in the last quarter. 4.65% of the stock is owned by institutional investors and hedge funds.
NYSE:ABB traded down $0.41 during trading hours on Monday, reaching $18.22. 28,164 shares of the company’s stock were exchanged, compared to its average volume of 2,698,458. The stock has a market cap of $38.97 billion, a P/E ratio of 13.72, a P/E/G ratio of 3.16 and a beta of 1.15. ABB Ltd has a 12 month low of $18.05 and a 12 month high of $24.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.32 and a quick ratio of 1.09. The stock has a 50-day moving average price of $19.22.
ABB (NYSE:ABB) last issued its earnings results on Thursday, July 25th. The industrial products company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.08. ABB had a net margin of 4.95% and a return on equity of 18.97%. The firm had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that ABB Ltd will post 0.86 EPS for the current year.
Several research firms have recently issued reports on ABB. Vertical Research upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Societe Generale cut shares of ABB from a “buy” rating to a “hold” rating in a report on Thursday. Deutsche Bank restated a “buy” rating and set a $23.00 target price on shares of ABB in a report on Friday, July 26th. ValuEngine cut shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. restated a “sell” rating and set a $18.00 target price on shares of ABB in a report on Monday, July 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. ABB currently has an average rating of “Hold” and an average price target of $20.37.
ABB Company Profile
ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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