Moors & Cabot Inc. trimmed its position in shares of ABB Ltd (NYSE:ABB – Get Rating) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,933 shares of the industrial products company's stock after selling 6,780 shares during the quarter. Moors & Cabot Inc.'s holdings in ABB were worth $4,654,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of ABB by 0.9% in the 4th quarter. Fisher Asset Management LLC now owns 20,864,281 shares of the industrial products company's stock valued at $635,526,000 after acquiring an additional 196,230 shares during the period. Royal Bank of Canada increased its position in shares of ABB by 2.2% during the 1st quarter. Royal Bank of Canada now owns 2,822,472 shares of the industrial products company's stock worth $91,278,000 after purchasing an additional 61,975 shares during the last quarter. First Trust Advisors LP raised its stake in shares of ABB by 8.2% in the 3rd quarter. First Trust Advisors LP now owns 2,392,071 shares of the industrial products company's stock valued at $61,380,000 after acquiring an additional 182,201 shares during the period. Chevy Chase Trust Holdings LLC raised its holdings in shares of ABB by 21.2% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 2,185,799 shares of the industrial products company's stock valued at $56,088,000 after buying an additional 382,644 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of ABB by 1.7% during the second quarter. Goldman Sachs Group Inc. now owns 1,978,913 shares of the industrial products company's stock worth $52,896,000 after purchasing an additional 32,202 shares in the last quarter. 5.24% of the stock is currently owned by institutional investors and hedge funds.
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Separately, StockNews.com initiated coverage on ABB in a research note on Thursday, March 16th. They set a "strong-buy" rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $28.68.
ABB Trading Down 1.3 %
Shares of ABB traded down $0.46 during trading hours on Friday, hitting $35.98. The stock had a trading volume of 661,307 shares, compared to its average volume of 1,479,905. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 1.15. ABB Ltd has a 12-month low of $24.27 and a 12-month high of $36.97. The firm has a market cap of $70.69 billion, a P/E ratio of 23.66, a P/E/G ratio of 3.50 and a beta of 1.10. The company's fifty day simple moving average is $33.85 and its 200 day simple moving average is $31.97.
ABB (NYSE:ABB – Get Rating) last issued its earnings results on Monday, April 24th. The industrial products company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.16. ABB had a return on equity of 23.19% and a net margin of 9.58%. The company had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company's revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that ABB Ltd will post 1.64 EPS for the current fiscal year.
About ABB
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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.
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