Oppenheimer & Co. Inc. raised its holdings in ABB Ltd (NYSE:ABB) by 92.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 117,841 shares of the industrial products company’s stock after acquiring an additional 56,751 shares during the period. Oppenheimer & Co. Inc.’s holdings in ABB were worth $2,917,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ABB. First Trust Advisors LP boosted its position in shares of ABB by 6,598.1% during the 2nd quarter. First Trust Advisors LP now owns 849,384 shares of the industrial products company’s stock worth $21,150,000 after purchasing an additional 836,703 shares during the period. Folketrygdfondet boosted its position in shares of ABB by 41.0% during the 2nd quarter. Folketrygdfondet now owns 2,787,278 shares of the industrial products company’s stock worth $69,403,000 after purchasing an additional 810,000 shares during the period. Royal Bank of Canada boosted its position in shares of ABB by 58.4% during the 2nd quarter. Royal Bank of Canada now owns 2,059,313 shares of the industrial products company’s stock worth $51,278,000 after purchasing an additional 759,112 shares during the period. Bowen Hanes & Co. Inc. boosted its position in shares of ABB by 999.5% during the 2nd quarter. Bowen Hanes & Co. Inc. now owns 786,265 shares of the industrial products company’s stock worth $19,578,000 after purchasing an additional 714,755 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of ABB by 14.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock worth $86,119,000 after purchasing an additional 432,665 shares during the period. Institutional investors own 4.63% of the company’s stock.

Shares of ABB Ltd (NYSE ABB) opened at $25.63 on Friday. ABB Ltd has a one year low of $20.26 and a one year high of $26.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.37. The company has a market cap of $55,569.63, a price-to-earnings ratio of 20.50, a P/E/G ratio of 3.33 and a beta of 1.06.

ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.55 billion. ABB had a net margin of 6.79% and a return on equity of 18.65%. ABB’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. analysts predict that ABB Ltd will post 1.24 earnings per share for the current fiscal year.

Several equities analysts have commented on ABB shares. Zacks Investment Research cut shares of ABB from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. J P Morgan Chase & Co reissued a “neutral” rating on shares of ABB in a research report on Friday. BidaskClub cut shares of ABB from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Robert W. Baird set a $28.00 price objective on shares of ABB and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Goldman Sachs Group Inc raised shares of ABB from a “neutral” rating to a “conviction-buy” rating in a research report on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. ABB has a consensus rating of “Hold” and an average price target of $23.50.

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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.

Institutional Ownership by Quarter for ABB (NYSE:ABB)

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