Wellington Shields Capital Management LLC decreased its position in ABB Ltd (NYSE:ABB) by 14.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,975 shares of the industrial products company’s stock after selling 12,600 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in ABB were worth $1,781,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ABB. First Trust Advisors LP lifted its holdings in shares of ABB by 6,598.1% during the second quarter. First Trust Advisors LP now owns 849,384 shares of the industrial products company’s stock valued at $21,150,000 after purchasing an additional 836,703 shares during the last quarter. Folketrygdfondet lifted its holdings in shares of ABB by 41.0% during the second quarter. Folketrygdfondet now owns 2,787,278 shares of the industrial products company’s stock valued at $69,403,000 after purchasing an additional 810,000 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of ABB by 58.4% during the second quarter. Royal Bank of Canada now owns 2,059,313 shares of the industrial products company’s stock valued at $51,278,000 after purchasing an additional 759,112 shares during the last quarter. Bowen Hanes & Co. Inc. lifted its holdings in shares of ABB by 999.5% during the second quarter. Bowen Hanes & Co. Inc. now owns 786,265 shares of the industrial products company’s stock valued at $19,578,000 after purchasing an additional 714,755 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of ABB by 14.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock valued at $86,119,000 after purchasing an additional 432,665 shares during the last quarter. Institutional investors and hedge funds own 4.44% of the company’s stock.
Shares of ABB Ltd (ABB) traded up $0.12 during midday trading on Tuesday, hitting $25.48. The stock had a trading volume of 1,452,000 shares, compared to its average volume of 1,924,872. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.37. The firm has a market cap of $54,984.23, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 3.33 and a beta of 1.06. ABB Ltd has a fifty-two week low of $20.26 and a fifty-two week high of $26.48.
ABB (NYSE:ABB) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.55 billion. ABB had a return on equity of 18.65% and a net margin of 6.79%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 EPS. analysts predict that ABB Ltd will post 1.23 earnings per share for the current year.
Several equities research analysts recently issued reports on ABB shares. Zacks Investment Research downgraded ABB from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. BidaskClub lowered ABB from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Robert W. Baird set a $28.00 target price on ABB and gave the stock a “buy” rating in a research report on Thursday, August 24th. Goldman Sachs Group, Inc. (The) raised ABB from a “neutral” rating to a “conviction-buy” rating in a research report on Tuesday, October 31st. Finally, UBS AG reaffirmed a “sell” rating on shares of ABB in a research report on Monday, July 24th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.50.
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ABB Company Profile
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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