Airain ltd Purchases 12,904 Shares of ABB Ltd (ABB)
Airain ltd boosted its stake in shares of ABB Ltd (NYSE:ABB) by 33.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,797 shares of the industrial products company’s stock after buying an additional 12,904 shares during the period. Airain ltd’s holdings in ABB were worth $1,290,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Financial Architects Inc increased its stake in ABB by 2,404.2% in the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock valued at $104,000 after buying an additional 4,015 shares during the last quarter. Ledyard National Bank increased its stake in ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock valued at $108,000 after buying an additional 150 shares during the last quarter. Huntington National Bank increased its stake in ABB by 40.3% in the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock valued at $137,000 after buying an additional 1,575 shares during the last quarter. IFP Advisors Inc increased its stake in ABB by 71.0% in the second quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock valued at $163,000 after buying an additional 2,721 shares during the last quarter. Finally, Wellington Shields & Co. LLC purchased a new stake in ABB during the second quarter valued at $207,000. Hedge funds and other institutional investors own 4.43% of the company’s stock.
ABB Ltd (ABB) opened at 23.26 on Friday. The stock’s 50 day moving average is $23.45 and its 200 day moving average is $23.90. The firm has a market cap of $49.64 billion, a P/E ratio of 22.41 and a beta of 1.07. ABB Ltd has a 12-month low of $20.26 and a 12-month high of $25.83.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.55 billion. ABB had a net margin of 6.87% and a return on equity of 18.62%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. On average, equities research analysts expect that ABB Ltd will post $1.25 EPS for the current year.
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A number of equities analysts have commented on the stock. BidaskClub downgraded shares of ABB from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Robert W. Baird set a $28.00 target price on shares of ABB and gave the stock a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of ABB from a “sell” rating to a “hold” rating and set a $28.00 target price for the company in a report on Monday, June 12th. Citigroup Inc. reiterated a “sell” rating on shares of ABB in a report on Friday, June 9th. Finally, BNP Paribas downgraded shares of ABB from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The company 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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