Sei Investments Co. boosted its position in ABB Ltd (NYSE:ABB) by 25.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 276,963 shares of the industrial products company’s stock after buying an additional 55,458 shares during the period. Sei Investments Co.’s holdings in ABB were worth $6,897,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Financial Architects Inc increased its position in shares of ABB by 2,404.2% in the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock worth $104,000 after buying an additional 4,015 shares during the last quarter. Ledyard National Bank increased its position in shares of ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock worth $108,000 after buying an additional 150 shares during the last quarter. Huntington National Bank increased its position in shares of ABB by 40.3% in the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock worth $137,000 after buying an additional 1,575 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of ABB during the first quarter worth $206,000. Finally, Wellington Shields & Co. LLC purchased a new position in shares of ABB during the second quarter worth $207,000. Institutional investors and hedge funds own 4.05% of the company’s stock.
ABB Ltd (ABB) opened at 22.95 on Tuesday. The firm has a market capitalization of $48.98 billion, a P/E ratio of 22.11 and a beta of 1.06. The firm has a 50 day moving average of $24.19 and a 200 day moving average of $23.94. ABB Ltd has a 12-month low of $20.26 and a 12-month high of $25.83.
ABB (NYSE:ABB) last released its earnings results on Thursday, July 20th. The industrial products company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.55 billion. ABB had a return on equity of 18.62% and a net margin of 6.87%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, analysts forecast that ABB Ltd will post $1.25 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on ABB shares. Morgan Stanley restated a “buy” rating on shares of ABB in a report on Thursday, April 27th. BidaskClub downgraded shares of ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of ABB from a “sell” rating to a “hold” rating and set a $28.00 target price on the stock in a report on Monday, June 12th. BNP Paribas downgraded shares of ABB from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 23rd. Finally, Robert W. Baird restated an “outperform” rating and set a $28.00 target price (up from $27.00) on shares of ABB in a report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. ABB currently has a consensus rating of “Hold” and a consensus target price of $24.25.
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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