ABB Ltd. (ABB) Shares Bought by Grandfield & Dodd LLC
Grandfield & Dodd LLC increased its position in shares of ABB Ltd. (NYSE:ABB) by 3.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 606,866 shares of the company’s stock after buying an additional 18,523 shares during the period. ABB comprises about 1.7% of Grandfield & Dodd LLC’s holdings, making the stock its 23rd largest position. Grandfield & Dodd LLC’s holdings in ABB were worth $12,034,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cardinal Capital Management boosted its position in ABB by 3.6% in the second quarter. Cardinal Capital Management now owns 73,027 shares of the company’s stock worth $1,448,000 after buying an additional 2,507 shares during the last quarter. Conning Inc. bought a new position in ABB during the second quarter worth $3,514,000. Smith Asset Management Group LP bought a new position in ABB during the second quarter worth $186,000. Trutina Financial LLC bought a new position in ABB during the second quarter worth $3,445,000. Finally, Rehmann Capital Advisory Group boosted its position in ABB by 0.8% in the second quarter. Rehmann Capital Advisory Group now owns 10,800 shares of the company’s stock worth $214,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 3.27% of the company’s stock.
Shares of ABB Ltd. (NYSE:ABB) traded up 0.067% during trading on Monday, hitting $22.525. 1,319,617 shares of the stock were exchanged. The firm has a 50 day moving average of $22.22 and a 200-day moving average of $20.78. The stock has a market cap of $47.91 billion, a PE ratio of 29.215 and a beta of 1.20. ABB Ltd. has a 52-week low of $15.74 and a 52-week high of $22.88.
ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. ABB had a net margin of 4.91% and a return on equity of 16.86%. The firm earned $8.68 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts anticipate that ABB Ltd. will post $1.08 earnings per share for the current fiscal year.
A number of research firms have weighed in on ABB. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of ABB in a research note on Thursday, September 22nd. Zacks Investment Research cut shares of ABB from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. BNP Paribas upgraded shares of ABB from an “underperform” rating to an “outperform” rating in a research note on Thursday, September 1st. HSBC cut shares of ABB from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Finally, Deutsche Bank AG upgraded shares of ABB from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. ABB currently has a consensus rating of “Hold” and a consensus target price of $23.30.
ABB Company Profile
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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