Indie Asset Partners LLC bought a new stake in ABB Ltd (NYSE:ABB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,750 shares of the industrial products company’s stock, valued at approximately $217,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC grew its position in ABB by 4.7% in the fourth quarter. Fisher Asset Management LLC now owns 15,258,045 shares of the industrial products company’s stock valued at $426,615,000 after acquiring an additional 678,699 shares during the last quarter. Morgan Stanley grew its holdings in shares of ABB by 18.5% during the third quarter. Morgan Stanley now owns 3,054,462 shares of the industrial products company’s stock worth $77,737,000 after purchasing an additional 475,822 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of ABB by 25.7% during the third quarter. Wells Fargo & Company MN now owns 2,271,247 shares of the industrial products company’s stock worth $57,803,000 after purchasing an additional 464,494 shares during the last quarter. Grandfield & Dodd LLC grew its holdings in shares of ABB by 0.3% during the fourth quarter. Grandfield & Dodd LLC now owns 854,767 shares of the industrial products company’s stock worth $23,900,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Aperio Group LLC grew its holdings in shares of ABB by 2.5% during the third quarter. Aperio Group LLC now owns 685,580 shares of the industrial products company’s stock worth $17,448,000 after purchasing an additional 16,425 shares during the last quarter. Hedge funds and other institutional investors own 4.08% of the company’s stock.
Several analysts have recently weighed in on the company. Morgan Stanley restated an “underweight” rating on shares of ABB in a report on Friday, February 5th. Barclays lowered ABB from an “overweight” rating to an “equal weight” rating in a research note on Friday, January 15th. TheStreet lowered ABB from a “b” rating to a “c+” rating in a research note on Monday, October 26th. Credit Suisse Group began coverage on ABB in a research note on Friday, December 18th. They issued a “neutral” rating on the stock. Finally, Nordea Equity Research lowered ABB from a “buy” rating to a “hold” rating in a research note on Friday, February 5th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. ABB has an average rating of “Hold” and a consensus target price of $25.00.
ABB (NYSE:ABB) last released its quarterly earnings data on Wednesday, February 3rd. The industrial products company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The firm had revenue of $7.18 billion during the quarter, compared to the consensus estimate of $6.96 billion. ABB had a return on equity of 15.47% and a net margin of 21.33%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. As a group, equities research analysts forecast that ABB Ltd will post 0.81 EPS for the current fiscal year.
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 Products segment provides electric vehicle charging infrastructure, solar 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.
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