JPMorgan Chase & Co. Sells 8,637 Shares of ABB Ltd (ABB)

JPMorgan Chase & Co. cut its stake in shares of ABB Ltd (NYSE:ABB) by 25.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,950 shares of the industrial products company’s stock after selling 8,637 shares during the period. JPMorgan Chase & Co.’s holdings in ABB were worth $615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of ABB. Mountain Capital Investment Advisors Inc purchased a new stake in ABB during the second quarter valued at approximately $120,000. Cubist Systematic Strategies LLC raised its position in ABB by 296.7% during the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 3,590 shares during the period. Quantbot Technologies LP purchased a new stake in ABB during the third quarter valued at approximately $184,000. Raymond James Trust N.A. purchased a new stake in ABB during the third quarter valued at approximately $216,000. Finally, Bradley Foster & Sargent Inc. CT raised its position in ABB by 31.2% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 10,724 shares of the industrial products company’s stock valued at $265,000 after purchasing an additional 2,550 shares during the period. Institutional investors and hedge funds own 4.73% of the company’s stock.

A number of brokerages have issued reports on ABB. JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a research report on Wednesday, January 10th. Zacks Investment Research upgraded ABB from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Wednesday, January 10th. Bank of America downgraded ABB from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 9th. Robert W. Baird restated a “buy” rating and set a $29.00 price objective on shares of ABB in a research report on Friday, December 15th. Finally, Goldman Sachs Group restated a “buy” rating on shares of ABB in a research report on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. ABB presently has a consensus rating of “Hold” and an average target price of $26.67.

ABB Ltd (NYSE ABB) opened at $28.09 on Tuesday. The company has a market capitalization of $60,903.28, a P/E ratio of 26.01, a PEG ratio of 2.92 and a beta of 1.06. ABB Ltd has a 52 week low of $22.04 and a 52 week high of $28.13. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.37.

ABB (NYSE:ABB) last released its earnings results on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.55 billion. ABB had a return on equity of 18.65% and a net margin of 6.79%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. sell-side analysts forecast that ABB Ltd will post 1.25 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “JPMorgan Chase & Co. Sells 8,637 Shares of ABB Ltd (ABB)” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://stocknewstimes.com/2018/01/16/jpmorgan-chase-co-sells-8637-shares-of-abb-ltd-abb.html.

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.

Institutional Ownership by Quarter for ABB (NYSE:ABB)

Receive News & Ratings for ABB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply