HighTower Advisors LLC grew its position in ABB Ltd (NYSE:ABB) by 205.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 60,301 shares of the industrial products company’s stock after buying an additional 40,578 shares during the period. HighTower Advisors LLC’s holdings in ABB were worth $1,500,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of ABB. Fisher Asset Management LLC raised its holdings in ABB by 1,084.0% in the second quarter. Fisher Asset Management LLC now owns 8,281,858 shares of the industrial products company’s stock worth $206,218,000 after buying an additional 7,582,360 shares during the last quarter. First Trust Advisors LP raised 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 raised 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. Bowen Hanes & Co. Inc. raised 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, Renaissance Technologies LLC raised its holdings in shares of ABB by 202.1% during the first quarter. Renaissance Technologies LLC now owns 890,537 shares of the industrial products company’s stock valued at $20,839,000 after purchasing an additional 595,737 shares during the last quarter. 4.42% of the stock is owned by institutional investors and hedge funds.
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Shares of ABB Ltd (NYSE ABB) opened at 25.08 on Wednesday. The company has a market capitalization of $53.52 billion, a price-to-earnings ratio of 24.16 and a beta of 1.06. ABB Ltd has a 12 month low of $20.26 and a 12 month high of $25.83. The company’s 50-day moving average is $24.19 and its 200 day moving average is $24.24.
ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). ABB had a return on equity of 18.62% and a net margin of 6.87%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the prior year, the business posted $0.35 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that ABB Ltd will post $1.23 earnings per share for the current year.
ABB has been the subject of several research reports. Zacks Investment Research cut shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. BidaskClub cut shares of ABB from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Robert W. Baird set a $28.00 price objective on shares of ABB and gave the company a “buy” rating in a report on Thursday, August 24th. Morgan Stanley reissued a “buy” rating on shares of ABB in a report on Thursday, June 22nd. Finally, UBS AG reissued a “sell” rating on shares of ABB in a report on Monday, July 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $23.50.
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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