180 Wealth Advisors LLC lifted its stake in shares of ABB Ltd (NYSE:ABB) by 35.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,864 shares of the industrial products company’s stock after purchasing an additional 4,886 shares during the quarter. 180 Wealth Advisors LLC’s holdings in ABB were worth $411,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ABB. Boston Partners raised its stake in shares of ABB by 120.7% during the first quarter. Boston Partners now owns 7,010,431 shares of the industrial products company’s stock valued at $166,428,000 after purchasing an additional 3,833,342 shares in the last quarter. Hamlin Capital Management LLC raised its stake in shares of ABB by 57.9% during the second quarter. Hamlin Capital Management LLC now owns 3,766,863 shares of the industrial products company’s stock valued at $82,005,000 after purchasing an additional 1,381,415 shares in the last quarter. Aperio Group LLC bought a new stake in shares of ABB during the first quarter valued at about $22,159,000. Fisher Asset Management LLC raised its stake in shares of ABB by 6.2% during the second quarter. Fisher Asset Management LLC now owns 10,265,149 shares of the industrial products company’s stock valued at $223,472,000 after purchasing an additional 600,743 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in ABB by 3,915.9% in the second quarter. Segall Bryant & Hamill LLC now owns 489,895 shares of the industrial products company’s stock worth $10,665,000 after acquiring an additional 477,696 shares in the last quarter. Institutional investors and hedge funds own 5.77% of the company’s stock.
Shares of ABB stock opened at $22.54 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. ABB Ltd has a 52 week low of $21.22 and a 52 week high of $28.67. The stock has a market capitalization of $48.31 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21.
ABB (NYSE:ABB) last issued its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. ABB had a net margin of 6.24% and a return on equity of 19.94%. The firm had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $9.03 billion. During the same period in the previous year, the business earned $0.30 earnings per share. ABB’s revenue for the quarter was up 5.1% compared to the same quarter last year. analysts predict that ABB Ltd will post 1.38 earnings per share for the current year.
Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Jefferies Financial Group upgraded shares of ABB from an “underperform” rating to a “hold” rating and set a $23.00 price target on the stock in a research report on Wednesday, July 11th. ValuEngine cut shares of ABB from a “hold” rating to a “sell” rating in a research report on Tuesday, May 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a research report on Thursday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.00.
ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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