13D Management LLC boosted its stake in ABB Ltd (NYSE:ABB) by 4.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 607,085 shares of the industrial products company’s stock after purchasing an additional 24,683 shares during the quarter. ABB comprises 3.4% of 13D Management LLC’s portfolio, making the stock its 15th largest position. 13D Management LLC’s holdings in ABB were worth $11,620,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its holdings in ABB by 133.3% in the fourth quarter. Deutsche Bank AG now owns 329,738 shares of the industrial products company’s stock valued at $6,267,000 after purchasing an additional 188,378 shares during the period. Ledyard National Bank grew its holdings in ABB by 107.2% in the first quarter. Ledyard National Bank now owns 595,165 shares of the industrial products company’s stock valued at $11,231,000 after purchasing an additional 307,877 shares during the period. Capital Investment Advisory Services LLC grew its holdings in ABB by 12,755.6% in the first quarter. Capital Investment Advisory Services LLC now owns 5,785 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 5,740 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in ABB by 146.1% in the first quarter. Kornitzer Capital Management Inc. KS now owns 642,130 shares of the industrial products company’s stock valued at $12,117,000 after purchasing an additional 381,170 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in ABB by 2,682.6% in the third quarter. Bank of New York Mellon Corp now owns 773,750 shares of the industrial products company’s stock valued at $18,284,000 after purchasing an additional 745,943 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

NYSE ABB opened at $18.90 on Tuesday. ABB Ltd has a 52 week low of $18.05 and a 52 week high of $24.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.23. The firm has a market cap of $40.59 billion, a PE ratio of 14.21, a PEG ratio of 2.77 and a beta of 1.09.

ABB (NYSE:ABB) last posted its earnings results on Wednesday, April 17th. The industrial products company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. ABB had a net margin of 6.59% and a return on equity of 19.31%. The business had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that ABB Ltd will post 1 earnings per share for the current year.

ABB has been the topic of a number of recent research reports. Zacks Investment Research raised shares of ABB from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $21.00 price target on shares of ABB in a research report on Friday, May 3rd. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of ABB in a research report on Thursday, February 28th. DNB Markets cut shares of ABB from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, UBS Group reaffirmed a “hold” rating on shares of ABB in a research report on Thursday, February 28th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. ABB currently has a consensus rating of “Hold” and a consensus target price of $20.87.

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About ABB

ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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