Moors & Cabot Inc. reduced its position in shares of ABB Ltd (NYSE:ABB – Get Rating) by 3.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,679 shares of the industrial products company’s stock after selling 5,034 shares during the quarter. Moors & Cabot Inc.’s holdings in ABB were worth $3,767,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of ABB. Fisher Asset Management LLC increased its stake in ABB by 3.3% during the 3rd quarter. Fisher Asset Management LLC now owns 20,668,051 shares of the industrial products company’s stock valued at $530,342,000 after purchasing an additional 663,668 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in ABB by 132.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 675,973 shares of the industrial products company’s stock valued at $17,344,000 after purchasing an additional 385,742 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in ABB by 21.2% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 2,185,799 shares of the industrial products company’s stock valued at $56,088,000 after purchasing an additional 382,644 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of ABB by 11.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,946,711 shares of the industrial products company’s stock worth $62,956,000 after acquiring an additional 203,012 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of ABB by 8.2% in the third quarter. First Trust Advisors LP now owns 2,392,071 shares of the industrial products company’s stock worth $61,380,000 after acquiring an additional 182,201 shares during the period. 5.24% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on shares of ABB in a report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.68.
ABB Price Performance
NYSE:ABB traded down $0.30 during trading hours on Tuesday, hitting $36.75. 684,149 shares of the stock traded hands, compared to its average volume of 1,503,916. The company has a quick ratio of 0.80, a current ratio of 1.15 and a debt-to-equity ratio of 0.41. ABB Ltd has a 1 year low of $24.27 and a 1 year high of $37.11. The company has a market cap of $72.20 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 3.58 and a beta of 1.11. The stock has a 50 day moving average price of $34.46 and a 200 day moving average price of $32.88.
ABB (NYSE:ABB – Get Rating) last released its earnings results on Monday, April 24th. The industrial products company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.40 by $0.16. ABB had a net margin of 9.58% and a return on equity of 23.19%. The firm had revenue of $7.86 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts forecast that ABB Ltd will post 1.62 EPS for the current fiscal year.
ABB Profile
ABB Ltd. is a technology company, which engages in the development and provision of electrification, motion and automation solutions. It operates through the following business segments: Electrification, Motion, Process Automation and Robotics & Discrete Automation. The Electrification segment manufactures and sells electrical products and solutions which are designed to provide safe, smart and sustainable electrical flow from the substation to the socket.