Shufro Rose & Co. LLC Buys 90 Shares of ABB Ltd (ABB)
Shufro Rose & Co. LLC increased its stake in shares of ABB Ltd (NYSE:ABB) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 37,140 shares of the industrial products company’s stock after buying an additional 90 shares during the period. Shufro Rose & Co. LLC’s holdings in ABB were worth $925,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Atria Investments LLC bought a new stake in shares of ABB during the first quarter valued at about $221,000. Fox Run Management L.L.C. bought a new stake in shares of ABB during the first quarter valued at about $260,000. Portland Global Advisors LLC boosted its stake in shares of ABB by 0.3% in the first quarter. Portland Global Advisors LLC now owns 79,915 shares of the industrial products company’s stock valued at $1,870,000 after buying an additional 235 shares during the period. Bank of The West bought a new stake in shares of ABB during the first quarter valued at about $444,000. Finally, Greylin Investment Mangement Inc. bought a new stake in shares of ABB during the first quarter valued at about $459,000. 4.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of ABB Ltd (ABB) opened at 22.95 on Tuesday. The firm has a market cap of $48.98 billion, a PE ratio of 22.11 and a beta of 1.06. The stock has a 50 day moving average price of $24.19 and a 200-day moving average price of $23.94. ABB Ltd has a 52-week low of $20.26 and a 52-week high of $25.83.
ABB (NYSE:ABB) last posted its earnings results on Thursday, July 20th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by $0.03. The business 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 period last year, the company earned $0.35 EPS. On average, equities analysts anticipate that ABB Ltd will post $1.25 EPS for the current fiscal year.
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ABB has been the topic of several recent research reports. Morgan Stanley reaffirmed a “buy” rating on shares of ABB in a research report on Tuesday, April 18th. Zacks Investment Research cut ABB from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. BNP Paribas cut ABB from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 23rd. Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a research report on Friday, June 9th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $28.00 target price (up previously from $27.00) on shares of ABB in a research report on Friday, June 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target 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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