Huntington National Bank maintained its position in shares of ABB Ltd. (NYSE:ABB) during the second quarter, Holdings Channel reports. The institutional investor owned 5,141 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in ABB were worth $109,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ABB. BlackRock Institutional Trust Company N.A. purchased a new position in shares of ABB during the first quarter valued at approximately $150,000. Rehmann Capital Advisory Group boosted its position in shares of ABB by 0.8% in the second quarter. Rehmann Capital Advisory Group now owns 10,800 shares of the company’s stock valued at $214,000 after buying an additional 87 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of ABB by 5.1% in the second quarter. Checchi Capital Advisers LLC now owns 11,453 shares of the company’s stock valued at $227,000 after buying an additional 551 shares during the last quarter. Private Bank & Trust Co. boosted its position in shares of ABB by 28.7% in the second quarter. Private Bank & Trust Co. now owns 13,005 shares of the company’s stock valued at $258,000 after buying an additional 2,904 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of ABB by 11.9% in the first quarter. Geode Capital Management LLC now owns 13,612 shares of the company’s stock valued at $264,000 after buying an additional 1,451 shares during the last quarter. Institutional investors own 3.27% of the company’s stock.
ABB Ltd. (NYSE:ABB) traded down 0.70% during trading on Friday, hitting $22.72. 1,784,117 shares of the stock were exchanged. The stock has a market cap of $48.33 billion, a price-to-earnings ratio of 29.47 and a beta of 1.20. The firm’s 50 day moving average price is $22.30 and its 200-day moving average price is $20.91. ABB Ltd. has a 1-year low of $15.74 and a 1-year high of $22.92.
ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.09. The company earned $8.68 billion during the quarter, compared to analysts’ expectations of $8.83 billion. ABB had a return on equity of 16.86% and a net margin of 4.91%. ABB’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. On average, analysts anticipate that ABB Ltd. will post $1.08 EPS for the current year.
Several research analysts have commented on ABB shares. Zacks Investment Research upgraded shares of ABB from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, September 20th. HSBC cut shares of ABB from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Deutsche Bank AG upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Bank of America Corp. set a $23.00 price target on shares of ABB and gave the stock a “hold” rating in a report on Tuesday, October 4th. Finally, Robert W. Baird raised their price target on shares of ABB from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. ABB currently has an average rating of “Hold” and an average price target of $23.75.
ABB Company Profile
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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