Mondrian Investment Partners LTD maintained its position in shares of ABB Ltd (NYSE:ABB) during the second quarter, Holdings Channel reports. The fund owned 2,109,380 shares of the industrial products company’s stock at the end of the second quarter. ABB makes up about 1.5% of Mondrian Investment Partners LTD’s holdings, making the stock its 23rd largest position. Mondrian Investment Partners LTD’s holdings in ABB were worth $52,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bahl & Gaynor Inc. increased its position in shares of ABB by 0.4% in the first quarter. Bahl & Gaynor Inc. now owns 13,355 shares of the industrial products company’s stock worth $313,000 after buying an additional 55 shares during the period. Horrell Capital Management Inc. increased its position in shares of ABB by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the industrial products company’s stock worth $638,000 after buying an additional 100 shares during the period. Benedict Financial Advisors Inc. increased its position in shares of ABB by 1.1% in the second quarter. Benedict Financial Advisors Inc. now owns 10,940 shares of the industrial products company’s stock worth $260,000 after buying an additional 122 shares during the period. Ledyard National Bank increased its position in shares of ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock worth $108,000 after buying an additional 150 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. increased its position in shares of ABB by 0.5% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 43,072 shares of the industrial products company’s stock worth $1,072,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 4.03% of the company’s stock.

Shares of ABB Ltd (NYSE:ABB) opened at 22.82 on Friday. The firm has a 50 day moving average price of $24.33 and a 200-day moving average price of $23.93. The firm has a market cap of $48.70 billion, a PE ratio of 21.98 and a beta of 1.06. ABB Ltd has a 12 month low of $20.26 and a 12 month high of $25.83.

ABB (NYSE:ABB) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.55 billion. ABB had a return on equity of 18.62% and a net margin of 6.87%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.35 earnings per share. On average, analysts predict that ABB Ltd will post $1.25 EPS for the current fiscal year.

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A number of research analysts have commented on the company. Zacks Investment Research downgraded ABB from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. BidaskClub cut ABB from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BNP Paribas cut ABB from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 23rd. UBS AG reaffirmed a “sell” rating on shares of ABB in a research report on Monday, July 24th. Finally, Morgan Stanley cut ABB from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.25.

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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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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