Dividend Assets Capital LLC Acquires Shares of 27,270 ABB Ltd (ABB)

Dividend Assets Capital LLC acquired a new position in shares of ABB Ltd (NYSE:ABB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 27,270 shares of the industrial products company’s stock, valued at approximately $675,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Fisher Asset Management LLC raised its holdings in ABB by 4.5% during the 3rd quarter. Fisher Asset Management LLC now owns 8,658,635 shares of the industrial products company’s stock worth $214,301,000 after buying an additional 376,777 shares during the period. Northern Trust Corp grew its stake in ABB by 1.3% during the 2nd quarter. Northern Trust Corp now owns 4,514,363 shares of the industrial products company’s stock valued at $112,408,000 after acquiring an additional 59,101 shares in the last quarter. Schafer Cullen Capital Management Inc. grew its stake in ABB by 2.0% during the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 3,686,628 shares of the industrial products company’s stock valued at $91,797,000 after acquiring an additional 73,112 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in ABB by 14.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock valued at $86,119,000 after acquiring an additional 432,665 shares in the last quarter. Finally, Folketrygdfondet grew its stake in ABB by 41.0% during the 2nd quarter. Folketrygdfondet now owns 2,787,278 shares of the industrial products company’s stock valued at $69,403,000 after acquiring an additional 810,000 shares in the last quarter. Hedge funds and other institutional investors own 4.44% of the company’s stock.

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Shares of ABB Ltd (NYSE:ABB) traded up $0.12 during trading on Tuesday, reaching $25.48. The company’s stock had a trading volume of 1,452,000 shares, compared to its average volume of 1,924,872. The company has a market capitalization of $54,984.23, a PE ratio of 20.29, a P/E/G ratio of 3.33 and a beta of 1.06. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.48. ABB Ltd has a 52-week low of $20.26 and a 52-week high of $26.48.

ABB (NYSE:ABB) last announced its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $8.72 billion during 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 revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. analysts expect that ABB Ltd will post 1.23 EPS for the current year.

ABB has been the topic of several research analyst reports. BidaskClub cut ABB from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Robert W. Baird set a $28.00 target price on ABB and gave the company a “buy” rating in a research note on Thursday, August 24th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of ABB in a research note on Monday, November 6th. Morgan Stanley cut ABB from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 21st. Finally, Zacks Investment Research cut ABB from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.50.

About ABB

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)

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