ABB Ltd (ABB) Shares Sold by Bahl & Gaynor Inc.
Bahl & Gaynor Inc. trimmed its holdings in shares of ABB Ltd (NYSE:ABB) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,300 shares of the industrial products company’s stock after selling 55 shares during the quarter. Bahl & Gaynor Inc.’s holdings in ABB were worth $280,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Financial Architects Inc increased its position in shares of ABB by 2,404.2% during the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 4,015 shares during the last quarter. Ledyard National Bank increased its position in shares of ABB by 3.6% during the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 150 shares during the last quarter. Huntington National Bank increased its position in shares of ABB by 40.3% during the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 1,575 shares during the last quarter. IFP Advisors Inc increased its position in shares of ABB by 71.0% during the second quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 2,721 shares during the last quarter. Finally, Sawtooth Solutions LLC purchased a new stake in shares of ABB during the second quarter valued at approximately $201,000. 4.42% of the stock is owned by institutional investors.
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A number of analysts recently commented on ABB shares. Robert W. Baird set a $28.00 price target on ABB and gave the company a “buy” rating in a research report on Thursday, August 24th. Morgan Stanley reaffirmed a “buy” rating on shares of ABB in a research report on Thursday, June 22nd. BidaskClub downgraded ABB from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating and set a $28.00 price objective for the company in a report on Monday, June 12th. Finally, BNP Paribas lowered ABB from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 23rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. ABB currently has a consensus rating of “Hold” and an average price target of $24.25.
ABB Ltd (ABB) opened at 24.60 on Tuesday. The company has a market capitalization of $52.50 billion, a price-to-earnings ratio of 23.70 and a beta of 1.07. ABB Ltd has a 12-month low of $20.26 and a 12-month high of $25.83. The stock has a 50 day moving average price of $23.43 and a 200-day moving average price of $24.01.
ABB (NYSE:ABB) last posted its quarterly earnings data 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 company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.55 billion. ABB had a return on equity of 18.62% and a net margin of 6.87%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. Equities analysts predict that ABB Ltd will post $1.25 EPS for the current fiscal year.
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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