Checchi Capital Advisers LLC Raises Stake in ABB Ltd (ABB)
Checchi Capital Advisers LLC increased its stake in ABB Ltd (NYSE:ABB) by 20.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,525 shares of the industrial products company’s stock after buying an additional 2,943 shares during the period. Checchi Capital Advisers LLC’s holdings in ABB were worth $436,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of ABB by 93.8% in the first quarter. Wellington Management Group LLP now owns 20,250,046 shares of the industrial products company’s stock valued at $473,851,000 after buying an additional 9,801,313 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of ABB by 1,084.0% in the second quarter. Fisher Asset Management LLC now owns 8,281,858 shares of the industrial products company’s stock valued at $206,218,000 after buying an additional 7,582,360 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of ABB by 297.2% in the first quarter. Baird Financial Group Inc. now owns 1,566,385 shares of the industrial products company’s stock valued at $36,653,000 after buying an additional 1,172,057 shares in the last quarter. First Trust Advisors LP boosted its position in shares of ABB by 6,598.1% in the second quarter. First Trust Advisors LP now owns 849,384 shares of the industrial products company’s stock valued at $21,150,000 after buying an additional 836,703 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of ABB during the first quarter valued at $18,637,000. Institutional investors own 4.05% of the company’s stock.
ABB Ltd (NYSE ABB) opened at 22.85 on Wednesday. The stock has a market cap of $48.76 billion, a PE ratio of 22.01 and a beta of 1.06. The company’s 50 day moving average is $24.12 and its 200-day moving average is $23.93. ABB Ltd has a 1-year low of $20.26 and a 1-year high of $25.83.
ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. ABB had a return on equity of 18.62% and a net margin of 6.87%. The firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period last year, the company posted $0.35 earnings per share. The business’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts forecast that ABB Ltd will post $1.25 earnings per share for the current fiscal year.
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Several research analysts have recently weighed in on ABB shares. Morgan Stanley reiterated a “buy” rating on shares of ABB in a research note on Tuesday, April 18th. Zacks Investment Research cut shares of ABB from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. BNP Paribas cut shares of ABB from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Citigroup Inc. reiterated a “sell” rating on shares of ABB in a research note on Friday, June 9th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $28.00 price target (up previously from $27.00) on shares of ABB in a research note on Friday, June 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus 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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