Eqis Capital Management Inc. lifted its stake in shares of ABB Ltd (NYSE:ABB) by 21.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 31,257 shares of the industrial products company’s stock after buying an additional 5,452 shares during the quarter. Eqis Capital Management Inc.’s holdings in ABB were worth $795,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of ABB. Fisher Asset Management LLC raised its stake in ABB by 5.4% in the 2nd quarter. Fisher Asset Management LLC now owns 14,094,504 shares of the industrial products company’s stock worth $317,972,000 after purchasing an additional 716,182 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in ABB by 57.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,313,760 shares of the industrial products company’s stock worth $29,638,000 after purchasing an additional 480,175 shares in the last quarter. Baker Avenue Asset Management LP acquired a new stake in ABB in the 2nd quarter worth about $10,521,000. Wells Fargo & Company MN raised its stake in ABB by 25.7% in the 3rd quarter. Wells Fargo & Company MN now owns 2,271,247 shares of the industrial products company’s stock worth $57,803,000 after purchasing an additional 464,494 shares in the last quarter. Finally, Baird Financial Group Inc. raised its stake in ABB by 43.3% in the 2nd quarter. Baird Financial Group Inc. now owns 1,205,499 shares of the industrial products company’s stock worth $29,039,000 after purchasing an additional 363,973 shares in the last quarter. Institutional investors own 2.86% of the company’s stock.
Shares of ABB stock opened at $26.65 on Friday. The firm has a market capitalization of $57.78 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 5.41 and a beta of 1.08. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $26.30 and its 200 day moving average is $24.02. ABB Ltd has a 1 year low of $14.71 and a 1 year high of $28.03.
ABB (NYSE:ABB) last announced its quarterly earnings results on Friday, October 23rd. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $6.58 billion for the quarter, compared to analyst estimates of $6.29 billion. ABB had a net margin of 21.33% and a return on equity of 15.47%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. As a group, research analysts anticipate that ABB Ltd will post 0.81 earnings per share for the current year.
Several analysts have weighed in on the stock. Morgan Stanley reiterated an “underweight” rating on shares of ABB in a research note on Monday, October 26th. UBS Group restated a “buy” rating on shares of ABB in a research report on Friday. TheStreet cut shares of ABB from a “b” rating to a “c+” rating in a research report on Monday, October 26th. Deutsche Bank Aktiengesellschaft cut shares of ABB from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of ABB in a research report on Friday, July 24th. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $22.00.
ABB Ltd manufactures and sells electrification, industrial automation, motion, and robotics and discrete automation products for customers in utilities, industry and transport, and infrastructure worldwide. The company's 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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