Parametric Portfolio Associates LLC Acquires 56,397 Shares of ABB Ltd (ABB)
Parametric Portfolio Associates LLC raised its holdings in shares of ABB Ltd (NYSE:ABB) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,800,860 shares of the industrial products company’s stock after purchasing an additional 56,397 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.08% of ABB worth $44,841,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Architects Inc lifted its holdings in 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 purchasing an additional 4,015 shares during the last quarter. Ledyard National Bank lifted its holdings in 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 purchasing an additional 150 shares during the last quarter. Huntington National Bank lifted its holdings in 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 purchasing an additional 1,575 shares during the last quarter. IFP Advisors Inc lifted its holdings in 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 purchasing an additional 2,721 shares during the last quarter. Finally, Sawtooth Solutions LLC purchased a new stake in ABB during the second quarter valued at about $201,000. 4.42% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Robert W. Baird set a $28.00 price objective on shares of ABB and gave the company a “buy” rating in a report on Thursday, August 24th. BidaskClub downgraded shares of ABB from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. UBS AG reaffirmed a “sell” rating on shares of ABB in a report on Monday, July 24th. Finally, Morgan Stanley downgraded shares of ABB from an “overweight” rating to an “equal weight” rating in a report on Friday, July 21st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $24.25.
Shares of ABB Ltd (NYSE:ABB) opened at 24.59 on Thursday. ABB Ltd has a 12 month low of $20.26 and a 12 month high of $25.83. The stock’s 50 day moving average price is $23.46 and its 200 day moving average price is $24.02. The company has a market capitalization of $52.47 billion, a PE ratio of 23.69 and a beta of 1.07.
ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). ABB had a net margin of 6.87% and a return on equity of 18.62%. The company had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the previous year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. On average, analysts forecast that ABB Ltd will post $1.22 EPS for the current 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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