Mayflower Financial Advisors LLC boosted its stake in ABB Ltd (NYSE:ABB – Get Rating) by 7.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 40,389 shares of the industrial products company’s stock after buying an additional 2,631 shares during the period. Mayflower Financial Advisors LLC’s holdings in ABB were worth $1,080,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of ABB by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 54,683 shares of the industrial products company’s stock worth $2,087,000 after acquiring an additional 4,852 shares during the period. BNP Paribas Arbitrage SA lifted its stake in ABB by 47.9% in the 4th quarter. BNP Paribas Arbitrage SA now owns 5,416 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 1,754 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of ABB by 133.5% during the fourth quarter. Allianz Asset Management GmbH now owns 17,515 shares of the industrial products company’s stock worth $669,000 after purchasing an additional 10,015 shares during the period. Invesco Ltd. lifted its holdings in shares of ABB by 2.9% during the fourth quarter. Invesco Ltd. now owns 3,471,791 shares of the industrial products company’s stock worth $132,518,000 after purchasing an additional 96,369 shares during the period. Finally, Clearstead Advisors LLC lifted its holdings in shares of ABB by 82.2% during the fourth quarter. Clearstead Advisors LLC now owns 665 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 5.41% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Bank of America downgraded shares of ABB from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 6th. Citigroup downgraded shares of ABB from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. Stifel Nicolaus initiated coverage on shares of ABB in a research report on Thursday, June 30th. They set a “buy” rating for the company. UBS Group decreased their target price on shares of ABB from CHF 37 to CHF 35 in a research report on Friday, July 22nd. Finally, Morgan Stanley boosted their target price on shares of ABB from CHF 27 to CHF 27.20 in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, ABB has a consensus rating of “Hold” and a consensus target price of $32.24.
ABB Price Performance
ABB (NYSE:ABB – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.10). ABB had a net margin of 14.87% and a return on equity of 17.32%. The business had revenue of $7.25 billion during the quarter, compared to analysts’ expectations of $7.86 billion. Equities research analysts forecast that ABB Ltd will post 1.31 earnings per share for the current year.
ABB Company Profile
ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, 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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