Rehmann Capital Advisory Group boosted its stake in ABB Ltd. (NYSE:ABB) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 10,800 shares of the company’s stock after buying an additional 87 shares during the period. Rehmann Capital Advisory Group’s holdings in ABB were worth $214,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABB. Wellington Management Group LLP raised its position in shares of ABB by 3.6% in the first quarter. Wellington Management Group LLP now owns 11,362,353 shares of the company’s stock valued at $220,657,000 after buying an additional 390,035 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of ABB by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 2,288,935 shares of the company’s stock valued at $44,451,000 after buying an additional 21,284 shares during the last quarter. UBS Group AG raised its position in shares of ABB by 47.5% in the first quarter. UBS Group AG now owns 856,662 shares of the company’s stock valued at $16,636,000 after buying an additional 275,986 shares during the last quarter. Ngam Advisors L.P. raised its position in shares of ABB by 22.5% in the first quarter. Ngam Advisors L.P. now owns 633,129 shares of the company’s stock valued at $12,295,000 after buying an additional 116,351 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of ABB by 4.3% in the first quarter. Franklin Resources Inc. now owns 547,925 shares of the company’s stock valued at $10,641,000 after buying an additional 22,423 shares during the last quarter. Institutional investors and hedge funds own 3.28% of the company’s stock.
ABB Ltd. (NYSE:ABB) traded down 0.70% during mid-day trading on Friday, reaching $22.65. The company’s stock had a trading volume of 1,936,831 shares. ABB Ltd. has a 12-month low of $15.74 and a 12-month high of $22.88. The firm has a market cap of $48.18 billion, a PE ratio of 29.38 and a beta of 1.33. The company has a 50-day moving average price of $22.09 and a 200-day moving average price of $20.63.
ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.09. ABB had a net margin of 4.91% and a return on equity of 16.86%. The business earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that ABB Ltd. will post $1.08 earnings per share for the current year.
A number of research analysts have recently weighed in on ABB shares. BNP Paribas upgraded ABB from an “underperform” rating to an “outperform” rating in a report on Thursday, September 1st. HSBC lowered ABB from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Deutsche Bank AG upgraded ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Zacks Investment Research lowered ABB from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a report on Monday, June 13th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $23.30.
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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