Smith Moore & CO. acquired a new stake in ABB Ltd (NYSE:ABB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,829 shares of the industrial products company’s stock, valued at approximately $210,000.
Other institutional investors have also added to or reduced their stakes in the company. FDx Advisors Inc. boosted its position in ABB by 103.6% during the fourth quarter. FDx Advisors Inc. now owns 41,396 shares of the industrial products company’s stock worth $1,110,000 after purchasing an additional 21,059 shares during the period. Wedbush Securities Inc. bought a new position in shares of ABB in the fourth quarter valued at approximately $298,000. Bank of New York Mellon Corp boosted its position in shares of ABB by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 141,846 shares of the industrial products company’s stock valued at $3,805,000 after acquiring an additional 26,810 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of ABB by 2.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 120,145 shares of the industrial products company’s stock valued at $3,222,000 after acquiring an additional 3,380 shares during the period. Finally, Eagle Asset Management Inc. bought a new stake in ABB during the fourth quarter valued at approximately $297,000. 5.44% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on ABB shares. Deutsche Bank raised shares of ABB from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Goldman Sachs Group reissued a “buy” rating on shares of ABB in a research report on Monday, January 22nd. Zacks Investment Research raised shares of ABB from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Wednesday, December 13th. Robert W. Baird restated a “buy” rating and set a $29.00 target price on shares of ABB in a report on Friday, December 15th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a research note on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.00.
ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, February 8th. The industrial products company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.49 billion. ABB had a return on equity of 18.11% and a net margin of 6.45%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. analysts predict that ABB Ltd will post 1.41 EPS for the current fiscal year.
The business also recently declared an annual dividend, which will be paid on Tuesday, May 15th. Investors of record on Thursday, April 5th will be given a $0.8261 dividend. The ex-dividend date is Wednesday, April 4th. This is an increase from ABB’s previous annual dividend of $0.75. This represents a yield of 3.44%. ABB’s dividend payout ratio (DPR) is currently 70.87%.
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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