Gamco Investors INC. ET AL Maintains Position in ABB Ltd (ABB)
Gamco Investors INC. ET AL held its stake in ABB Ltd (NYSE:ABB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,100 shares of the industrial products company’s stock at the end of the second quarter. Gamco Investors INC. ET AL’s holdings in ABB were worth $675,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. Financial Architects Inc boosted its stake in ABB by 2,404.2% in the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock valued at $104,000 after buying an additional 4,015 shares during the last quarter. Ledyard National Bank boosted its stake in ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock valued at $108,000 after buying an additional 150 shares during the last quarter. Huntington National Bank boosted its stake in ABB by 40.3% in the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock valued at $137,000 after buying an additional 1,575 shares during the last quarter. IFP Advisors Inc boosted its stake in ABB by 71.0% in the second quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock valued at $163,000 after buying an additional 2,721 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in ABB during the first quarter valued at $206,000. Hedge funds and other institutional investors own 4.43% of the company’s stock.
ABB Ltd (NYSE:ABB) opened at 22.92 on Wednesday. The stock has a 50 day moving average price of $23.71 and a 200-day moving average price of $23.89. ABB Ltd has a 12-month low of $20.26 and a 12-month high of $25.83. The firm has a market cap of $48.91 billion, a price-to-earnings ratio of 22.08 and a beta of 1.06.
ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. ABB had a return on equity of 18.62% and a net margin of 6.87%. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.55 billion. During the same period in the prior year, the company posted $0.35 EPS. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities analysts forecast that ABB Ltd will post $1.25 earnings per share for the current year.
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Several research firms recently weighed in on ABB. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Robert W. Baird restated an “outperform” rating and set a $28.00 target price (up previously from $27.00) on shares of ABB in a research note on Friday, June 16th. Morgan Stanley cut ABB from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 21st. UBS AG restated a “sell” rating on shares of ABB in a research note on Monday, July 24th. Finally, BidaskClub cut ABB from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus 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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