Raymond James Trust N.A. decreased its holdings in shares of ABB Ltd (NYSE:ABB – Get Rating) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,064 shares of the industrial products company's stock after selling 1,138 shares during the quarter. Raymond James Trust N.A.'s holdings in ABB were worth $276,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABB. AXA S.A. bought a new stake in shares of ABB in the 3rd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC acquired a new stake in ABB during the 4th quarter valued at $41,000. Guardian Wealth Advisors LLC acquired a new stake in ABB during the 3rd quarter valued at $40,000. Ronald Blue Trust Inc. increased its holdings in ABB by 179.1% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,599 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 1,026 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in ABB by 62.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,742 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 671 shares in the last quarter. Institutional investors own 5.24% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on ABB in a research 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ABB currently has an average rating of "Hold" and an average target price of $28.68.

ABB Stock Up 2.8 %

NYSE:ABB opened at $36.64 on Wednesday. The stock's fifty day simple moving average is $33.78 and its 200-day simple moving average is $31.91. The company has a quick ratio of 0.82, a current ratio of 1.18 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $71.99 billion, a P/E ratio of 28.18, a P/E/G ratio of 3.49 and a beta of 1.10. ABB Ltd has a 12-month low of $24.27 and a 12-month high of $36.97.

ABB (NYSE:ABB – Get Rating) last posted its earnings results on Thursday, February 2nd. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.21. The firm had revenue of $7.82 billion for the quarter, compared to analyst estimates of $7.58 billion. ABB had a return on equity of 19.52% and a net margin of 8.41%. Equities research analysts expect that ABB Ltd will post 1.64 earnings per share for the current year.

ABB Profile

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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.

Further Reading

• Get a free copy of the StockNews.com research report on ABB (ABB)
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