ABB Ltd (ABB) Stake Lessened by Clearbridge LLC

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Clearbridge LLC lowered its stake in shares of ABB Ltd (NYSE:ABB) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,362 shares of the industrial products company’s stock after selling 658 shares during the quarter. Clearbridge LLC’s holdings in ABB were worth $1,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wetherby Asset Management Inc. lifted its position in shares of ABB by 1.7% during the 4th quarter. Wetherby Asset Management Inc. now owns 43,000 shares of the industrial products company’s stock valued at $817,000 after buying an additional 700 shares in the last quarter. Whittier Trust Co. lifted its position in shares of ABB by 8.2% during the 4th quarter. Whittier Trust Co. now owns 10,488 shares of the industrial products company’s stock valued at $199,000 after buying an additional 795 shares in the last quarter. Cerity Partners LLC lifted its position in shares of ABB by 5.4% during the 4th quarter. Cerity Partners LLC now owns 16,040 shares of the industrial products company’s stock valued at $305,000 after buying an additional 816 shares in the last quarter. Tdam USA Inc. lifted its position in shares of ABB by 5.2% during the 4th quarter. Tdam USA Inc. now owns 18,435 shares of the industrial products company’s stock valued at $350,000 after buying an additional 910 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of ABB by 1.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 78,268 shares of the industrial products company’s stock valued at $1,488,000 after buying an additional 916 shares in the last quarter. Hedge funds and other institutional investors own 4.35% of the company’s stock.

ABB has been the topic of a number of recent analyst reports. HSBC upgraded ABB from a “hold” rating to a “buy” rating in a research report on Monday, December 10th. Bank of America raised ABB from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 8th. JPMorgan Chase & Co. downgraded ABB from a “neutral” rating to an “underweight” rating and set a $20.36 price objective for the company. in a research note on Sunday, December 9th. Berenberg Bank downgraded ABB from a “hold” rating to a “sell” rating in a research note on Monday, January 28th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of ABB in a research note on Monday, December 17th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.84.

NYSE ABB opened at $19.18 on Friday. ABB Ltd has a one year low of $18.05 and a one year high of $24.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.19 and a quick ratio of 0.89. The firm has a market capitalization of $41.10 billion, a P/E ratio of 15.34, a PEG ratio of 2.51 and a beta of 1.07.

ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, February 28th. The industrial products company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.10). ABB had a net margin of 7.86% and a return on equity of 12.78%. The firm had revenue of $7.40 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period in the prior year, the company posted $0.33 earnings per share. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, sell-side analysts forecast that ABB Ltd will post 1.4 earnings per share for the current year.

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About ABB

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.

Further Reading: How to calculate the intrinsic value of a stock

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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