Atria Investments LLC decreased its stake in shares of ABB Ltd (NYSE:ABB) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,088 shares of the industrial products company’s stock after selling 356 shares during the quarter. Atria Investments LLC’s holdings in ABB were worth $1,804,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in ABB. Capital International Investors grew its position in shares of ABB by 37.3% during the 1st quarter. Capital International Investors now owns 18,218,020 shares of the industrial products company’s stock worth $553,930,000 after buying an additional 4,949,192 shares during the period. Folketrygdfondet grew its position in shares of ABB by 104.0% during the 2nd quarter. Folketrygdfondet now owns 1,850,789 shares of the industrial products company’s stock worth $62,909,000 after buying an additional 943,701 shares during the period. Fisher Asset Management LLC grew its position in shares of ABB by 5.3% during the 2nd quarter. Fisher Asset Management LLC now owns 16,824,907 shares of the industrial products company’s stock worth $571,879,000 after buying an additional 845,430 shares during the period. BlackRock Inc. grew its position in shares of ABB by 166,521.2% during the 1st quarter. BlackRock Inc. now owns 731,467 shares of the industrial products company’s stock worth $22,288,000 after buying an additional 731,028 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of ABB during the 1st quarter worth approximately $19,814,000. 4.65% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on ABB shares. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a report on Wednesday, September 8th. Morgan Stanley set a $36.61 target price on ABB and gave the stock an “underweight” rating in a report on Friday, July 23rd. UBS Group set a $36.78 target price on ABB and gave the stock a “buy” rating in a report on Friday, July 23rd. Barclays set a $36.78 target price on ABB and gave the stock an “equal weight” rating in a report on Friday, July 23rd. Finally, Kepler Capital Markets upgraded ABB from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Friday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.74.
ABB (NYSE:ABB) last announced its earnings results on Wednesday, July 21st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. ABB had a return on equity of 15.37% and a net margin of 20.29%. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period last year, the firm posted $0.22 EPS. The business’s revenue was up 21.0% compared to the same quarter last year. On average, sell-side analysts forecast that ABB Ltd will post 1.36 earnings per share for the current fiscal year.
ABB Company Profile
ABB Ltd. is a technology company, which engages in the development and provision of electrification, motion and automation solutions. It operates through the following business segments: Electrification, Industrial Automation, Motion, Robotics & Discrete Automation and Corporate and Other. The Electrification segment manufactures and sells products and solutions which are designed to provide safer electrical flow from the substation to the socket.
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