Holowesko Partners Ltd. continued to hold its position in shares of ABB Ltd (NYSE:ABB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,000 shares of the industrial products company’s stock at the end of the second quarter. ABB comprises about 0.1% of Holowesko Partners Ltd.’s holdings, making the stock its 20th biggest position. Holowesko Partners Ltd.’s holdings in ABB were worth $1,469,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Financial Architects Inc boosted its holdings in ABB by 2,404.2% in the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 4,015 shares during the last quarter. Ledyard National Bank boosted its holdings in ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 150 shares during the last quarter. Huntington National Bank boosted its holdings in ABB by 40.3% in the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 1,575 shares during the last quarter. IFP Advisors Inc boosted its holdings in ABB by 71.0% in the second quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 2,721 shares during the last quarter. Finally, Sawtooth Solutions LLC bought a new position in ABB in the second quarter valued at about $201,000. Institutional investors and hedge funds own 4.43% of the company’s stock.
Shares of ABB Ltd (ABB) traded up 0.42% during trading on Friday, reaching $24.03. The company’s stock had a trading volume of 959,239 shares. The company’s 50 day moving average price is $23.28 and its 200 day moving average price is $23.92. The firm has a market cap of $51.28 billion, a PE ratio of 23.15 and a beta of 1.07. ABB Ltd has a 12 month low of $20.26 and a 12 month high of $25.83.
ABB (NYSE:ABB) last released its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. ABB had a net margin of 6.87% and a return on equity of 18.62%. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.55 billion. During the same quarter last year, the firm posted $0.35 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts predict that ABB Ltd will post $1.25 earnings per share for the current year.
Several research firms recently issued reports on ABB. Robert W. Baird set a $28.00 price target on ABB and gave the company a “buy” rating in a report on Thursday, August 24th. BidaskClub cut ABB from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. UBS AG reiterated a “sell” rating on shares of ABB in a report on Monday, July 24th. Morgan Stanley cut ABB from an “overweight” rating to an “equal weight” rating in a report on Friday, July 21st. Finally, Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $24.25.
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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