Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of ABB Ltd (NYSE:ABB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 74,004 shares of the industrial products company’s stock, valued at approximately $1,832,000.

Several other large investors have also modified their holdings of ABB. Fisher Asset Management LLC increased its holdings in shares of ABB by 4.5% in the 3rd quarter. Fisher Asset Management LLC now owns 8,658,635 shares of the industrial products company’s stock worth $214,301,000 after acquiring an additional 376,777 shares during the period. Northern Trust Corp increased its holdings in shares of ABB by 1.3% in the 2nd quarter. Northern Trust Corp now owns 4,514,363 shares of the industrial products company’s stock worth $112,408,000 after acquiring an additional 59,101 shares during the period. Schafer Cullen Capital Management Inc. increased its holdings in shares of ABB by 2.0% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 3,686,628 shares of the industrial products company’s stock worth $91,797,000 after acquiring an additional 73,112 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of ABB by 14.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock worth $86,119,000 after acquiring an additional 432,665 shares during the period. Finally, Folketrygdfondet increased its holdings in shares of ABB by 41.0% in the 2nd quarter. Folketrygdfondet now owns 2,787,278 shares of the industrial products company’s stock worth $69,403,000 after acquiring an additional 810,000 shares during the period. 4.44% of the stock is currently owned by institutional investors.

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ABB Ltd (NYSE:ABB) opened at $25.23 on Friday. The company has a market cap of $54,702.37, a PE ratio of 20.18, a price-to-earnings-growth ratio of 3.32 and a beta of 1.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.37. ABB Ltd has a 52 week low of $20.26 and a 52 week high of $26.48.

ABB (NYSE:ABB) last released its earnings results on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.55 billion. ABB had a net margin of 6.79% and a return on equity of 18.65%. ABB’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. equities research analysts forecast that ABB Ltd will post 1.23 earnings per share for the current year.

A number of analysts recently weighed in on the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of ABB in a report on Monday, November 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $29.00 price objective on shares of ABB in a report on Wednesday, October 4th. Zacks Investment Research cut shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. UBS AG reaffirmed a “sell” rating on shares of ABB in a report on Monday, July 24th. Finally, BidaskClub cut shares of ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $23.50.

About ABB

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.

Institutional Ownership by Quarter for ABB (NYSE:ABB)

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