Standard Family Office LLC lifted its position in shares of ABB Ltd (NYSE:ABB) by 129.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,588 shares of the industrial products company’s stock after acquiring an additional 2,023 shares during the quarter. Standard Family Office LLC’s holdings in ABB were worth $109,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in ABB. BlackRock Inc. boosted its stake in shares of ABB by 166,521.2% during the 1st quarter. BlackRock Inc. now owns 731,467 shares of the industrial products company’s stock worth $22,288,000 after acquiring an additional 731,028 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of ABB by 4.7% during the 1st quarter. Fisher Asset Management LLC now owns 15,979,477 shares of the industrial products company’s stock worth $486,895,000 after acquiring an additional 721,432 shares in the last quarter. Folketrygdfondet boosted its stake in shares of ABB by 186.6% during the 1st quarter. Folketrygdfondet now owns 907,088 shares of the industrial products company’s stock worth $27,639,000 after acquiring an additional 590,596 shares in the last quarter. Cullen Capital Management LLC raised its position in shares of ABB by 134.1% during the 1st quarter. Cullen Capital Management LLC now owns 377,237 shares of the industrial products company’s stock worth $11,494,000 after purchasing an additional 216,127 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of ABB by 9.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,483,051 shares of the industrial products company’s stock worth $69,426,000 after purchasing an additional 211,804 shares during the last quarter. 4.75% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on ABB. Cowen lifted their price objective on ABB from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, February 11th. JPMorgan Chase & Co. upgraded ABB from an “underweight” rating to a “neutral” rating in a research report on Tuesday, April 27th. The Goldman Sachs Group began coverage on ABB in a research report on Monday, April 5th. They set a “buy” rating for the company. Kepler Capital Markets downgraded ABB from a “buy” rating to a “hold” rating in a research report on Thursday, April 22nd. Finally, UBS Group restated a “buy” rating on shares of ABB in a research report on Wednesday, April 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.50.
ABB (NYSE:ABB) last announced its quarterly earnings data on Monday, April 26th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. ABB had a net margin of 19.66% and a return on equity of 14.27%. The company had revenue of $6.90 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same period in the previous year, the company earned $0.30 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts anticipate that ABB Ltd will post 1.26 earnings per share for the current year.
The business also recently disclosed an annual dividend, which was paid on Saturday, May 15th. Stockholders of record on Tuesday, March 30th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, March 29th. This is a boost from ABB’s previous annual dividend of $0.83. This represents a dividend yield of 2.7%. ABB’s payout ratio is currently 52.04%.
ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions for integrating and automating lighting, heating, ventilation, security, and data communication networks.
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