Boston Family Office LLC increased its stake in ABB Ltd (NYSE:ABB – Get Rating) by 18.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,476 shares of the industrial products company's stock after acquiring an additional 2,586 shares during the quarter. Boston Family Office LLC's holdings in ABB were worth $502,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its holdings in 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 worth $635,526,000 after acquiring an additional 196,230 shares in the last quarter. Royal Bank of Canada increased its holdings in ABB by 2.2% in 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 acquiring an additional 61,975 shares in the last quarter. First Trust Advisors LP increased its holdings in 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 worth $61,380,000 after acquiring an additional 182,201 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in 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 worth $56,088,000 after acquiring an additional 382,644 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in ABB by 1.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,978,913 shares of the industrial products company's stock worth $52,896,000 after acquiring an additional 32,202 shares in the last quarter. Hedge funds and other institutional investors own 5.24% of the company's stock.
Get ABB alerts:ABB Price Performance
ABB stock opened at $36.09 on Monday. ABB Ltd has a 52-week low of $24.27 and a 52-week high of $36.97. The firm has a market capitalization of $70.91 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.63 and a beta of 1.10. The company has a fifty day simple moving average of $33.89 and a 200-day simple moving average of $32.15. The company has a quick ratio of 0.82, a current ratio of 1.15 and a debt-to-equity ratio of 0.41.
ABB (NYSE:ABB – Get Rating) last announced its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.16. The firm had revenue of $7.86 billion for the quarter, compared to analysts' expectations of $7.58 billion. ABB had a net margin of 9.58% and a return on equity of 23.19%. The company's revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. On average, equities analysts anticipate that ABB Ltd will post 1.62 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, StockNews.com assumed coverage on shares of ABB in a report on Thursday, March 16th. They set a "strong-buy" rating for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $28.68.
ABB Company 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.
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