ABB Ltd (ABB) Holdings Cut by Boston Financial Mangement LLC
Boston Financial Mangement LLC lowered its holdings in shares of ABB Ltd (NYSE:ABB) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,186 shares of the industrial products company’s stock after selling 5,185 shares during the quarter. Boston Financial Mangement LLC’s holdings in ABB were worth $3,733,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Bank of Nova Scotia Trust Co. purchased a new position in ABB during the third quarter worth approximately $113,000. Mountain Capital Investment Advisors Inc purchased a new position in ABB during the second quarter worth approximately $120,000. Cubist Systematic Strategies LLC boosted its position in ABB by 296.7% during the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 3,590 shares in the last quarter. Quantbot Technologies LP purchased a new position in ABB during the third quarter worth approximately $184,000. Finally, Round Table Services LLC purchased a new position in ABB during the fourth quarter worth approximately $203,000. Institutional investors own 4.77% of the company’s stock.
ABB has been the topic of a number of recent analyst reports. Deutsche Bank upgraded ABB from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Goldman Sachs Group reissued a “buy” rating on shares of ABB in a report on Monday, November 6th. Zacks Investment Research raised ABB from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, December 13th. Robert W. Baird reissued a “buy” rating and set a $29.00 target price on shares of ABB in a report on Friday, December 15th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. ABB currently has an average rating of “Hold” and an average price target of $26.67.
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ABB Company Profile
ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.
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