ABB Ltd (ABB) Shares Bought by Baird Financial Group Inc.
Baird Financial Group Inc. grew its stake in ABB Ltd (NYSE:ABB) by 53.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,776,457 shares of the industrial products company’s stock after purchasing an additional 968,442 shares during the period. Baird Financial Group Inc.’s holdings in ABB were worth $74,465,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Smith Moore & CO. acquired a new stake in ABB in the 4th quarter worth $210,000. FDx Advisors Inc. grew its position in ABB by 103.6% in the 4th quarter. FDx Advisors Inc. now owns 41,396 shares of the industrial products company’s stock worth $1,110,000 after purchasing an additional 21,059 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in ABB in the 4th quarter worth $298,000. Bank of New York Mellon Corp grew its position in ABB by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 141,846 shares of the industrial products company’s stock worth $3,805,000 after purchasing an additional 26,810 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of ABB by 2.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 120,145 shares of the industrial products company’s stock valued at $3,222,000 after acquiring an additional 3,380 shares in the last quarter. Institutional investors own 4.89% of the company’s stock.
Several brokerages have recently weighed in on ABB. Goldman Sachs Group reiterated a “buy” rating on shares of ABB in a research report on Monday, December 11th. Zacks Investment Research lowered shares of ABB from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a research report on Wednesday, January 10th. Robert W. Baird reiterated a “buy” rating and set a $29.00 target price on shares of ABB in a research report on Friday, December 15th. Finally, Jefferies Group set a $20.00 target price on shares of ABB and gave the company a “sell” rating in a research report on Tuesday, November 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $26.00.
ABB (NYSE:ABB) last issued its earnings results on Thursday, February 8th. The industrial products company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.08. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.49 billion. ABB had a net margin of 6.45% and a return on equity of 18.11%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. analysts anticipate that ABB Ltd will post 1.37 earnings per share for the current year.
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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