Baird Financial Group Inc. lowered its position in ABB Ltd (NYSE:ABB) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 394,328 shares of the company’s stock after selling 5,958 shares during the period. Baird Financial Group Inc.’s holdings in ABB were worth $8,308,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in ABB during the fourth quarter worth approximately $24,914,000. Northern Trust Corp boosted its position in ABB by 27.9% in the third quarter. Northern Trust Corp now owns 2,884,725 shares of the company’s stock worth $64,934,000 after buying an additional 629,186 shares during the period. Quadrature Capital Ltd bought a new position in ABB during the second quarter worth approximately $9,213,000. Fisher Asset Management LLC boosted its position in ABB by 92.8% in the third quarter. Fisher Asset Management LLC now owns 704,153 shares of the company’s stock worth $15,851,000 after buying an additional 338,922 shares during the period. Finally, Schafer Cullen Capital Management Inc. boosted its position in ABB by 8.8% in the third quarter. Schafer Cullen Capital Management Inc. now owns 4,021,229 shares of the company’s stock worth $90,518,000 after buying an additional 323,643 shares during the period. 3.08% of the stock is owned by hedge funds and other institutional investors.
Shares of ABB Ltd (NYSE:ABB) traded down 0.57% on Tuesday, reaching $22.81. The company’s stock had a trading volume of 856,585 shares. The firm’s 50-day moving average price is $22.56 and its 200-day moving average price is $21.86. ABB Ltd has a 12 month low of $16.71 and a 12 month high of $23.90. The stock has a market cap of $48.78 billion, a P/E ratio of 25.15 and a beta of 1.23.
ABB (NYSE:ABB) last posted its earnings results on Wednesday, February 8th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. The company had revenue of $8.99 billion for the quarter, compared to the consensus estimate of $8.93 billion. ABB had a return on equity of 18.00% and a net margin of 5.80%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. On average, analysts forecast that ABB Ltd will post $1.16 earnings per share for the current fiscal year.
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ABB has been the subject of a number of research analyst reports. Royal Bank Of Canada raised shares of ABB from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 25th. Bank of America Corporation raised shares of ABB from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 10th. Nordea Equity Research raised ABB from a “hold” rating to a “buy” rating in a report on Thursday, January 26th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of ABB in a report on Wednesday, December 7th. Finally, RBC Capital Markets raised ABB from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $24.38.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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