First Mercantile Trust Co. acquired a new stake in ABB Ltd (NYSE:ABB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 45,796 shares of the industrial products company’s stock, valued at approximately $901,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Headinvest LLC boosted its stake in shares of ABB by 5.2% during the 2nd quarter. Headinvest LLC now owns 12,481 shares of the industrial products company’s stock worth $250,000 after acquiring an additional 615 shares in the last quarter. Signaturefd LLC boosted its stake in shares of ABB by 8.0% during the 3rd quarter. Signaturefd LLC now owns 8,329 shares of the industrial products company’s stock worth $164,000 after acquiring an additional 618 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of ABB by 5.2% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 13,246 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 651 shares in the last quarter. Old North State Trust LLC boosted its stake in shares of ABB by 12.9% during the 2nd quarter. Old North State Trust LLC now owns 6,255 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 713 shares in the last quarter. Finally, Wellington Shields Capital Management LLC boosted its stake in shares of ABB by 0.9% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 82,800 shares of the industrial products company’s stock worth $1,658,000 after acquiring an additional 750 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors.
Shares of ABB stock traded up $0.09 on Thursday, reaching $21.74. 9,864 shares of the stock were exchanged, compared to its average volume of 1,853,729. The stock has a market cap of $46.30 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 3.66 and a beta of 1.18. The company has a quick ratio of 1.12, a current ratio of 1.36 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $19.70 and a two-hundred day moving average of $19.31. ABB Ltd has a 1-year low of $17.71 and a 1-year high of $21.66.
ABB (NYSE:ABB) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.95 billion. ABB had a return on equity of 19.16% and a net margin of 5.06%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. On average, equities research analysts predict that ABB Ltd will post 0.86 EPS for the current fiscal year.
Several equities research analysts have recently commented on the company. Societe Generale lowered ABB from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. UBS Group restated a “hold” rating and set a $20.50 price objective on shares of ABB in a research report on Thursday, July 25th. Zacks Investment Research upgraded ABB from a “sell” rating to a “hold” rating and set a $21.00 price target for the company in a report on Thursday, September 12th. Morgan Stanley reiterated a “hold” rating and issued a $20.10 price target on shares of ABB in a report on Friday, July 26th. Finally, ValuEngine upgraded ABB from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $20.09.
ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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