ABB Ltd (NYSE:ABB) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its position in ABB Ltd (NYSE:ABB) by 37.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,775 shares of the industrial products company’s stock after selling 31,306 shares during the period. Janney Montgomery Scott LLC’s holdings in ABB were worth $1,018,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Headinvest LLC increased its holdings in shares of ABB by 5.2% in the 2nd quarter. Headinvest LLC now owns 12,481 shares of the industrial products company’s stock worth $250,000 after acquiring an additional 615 shares during the period. Signaturefd LLC increased its holdings in shares of ABB by 8.0% in the 3rd quarter. Signaturefd LLC now owns 8,329 shares of the industrial products company’s stock worth $164,000 after acquiring an additional 618 shares during the period. SeaCrest Wealth Management LLC increased its holdings in shares of ABB by 5.2% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 13,246 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 651 shares during the period. Old North State Trust LLC grew its position in ABB by 12.9% in the 2nd quarter. Old North State Trust LLC now owns 6,255 shares of the industrial products company’s stock valued at $125,000 after buying an additional 713 shares in the last quarter. Finally, Wellington Shields Capital Management LLC grew its position in ABB by 0.9% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 82,800 shares of the industrial products company’s stock valued at $1,658,000 after buying an additional 750 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ABB opened at $21.77 on Friday. ABB Ltd has a twelve month low of $17.71 and a twelve month high of $21.81. The company has a current ratio of 1.36, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $19.76 and a 200-day moving average of $19.32. The firm has a market cap of $46.34 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 3.66 and a beta of 1.18.

ABB (NYSE:ABB) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.33 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. ABB had a net margin of 5.06% and a return on equity of 19.16%. The company had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same quarter last year, the firm posted $0.34 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, research analysts forecast that ABB Ltd will post 0.86 earnings per share for the current year.

A number of equities analysts recently issued reports on ABB shares. JPMorgan Chase & Co. reiterated a “sell” rating on shares of ABB in a research report on Tuesday, October 8th. Deutsche Bank reiterated a “buy” rating and issued a $23.00 target price on shares of ABB in a research report on Friday, July 26th. UBS Group reiterated a “hold” rating and issued a $20.50 target price on shares of ABB in a research report on Thursday, July 25th. Zacks Investment Research upgraded shares of ABB from a “sell” rating to a “hold” rating and set a $21.00 target price for the company in a research report on Thursday, September 12th. Finally, ValuEngine upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $20.09.

ABB 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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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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