10,517 Shares in ABB Ltd (ABB) Purchased by Janney Capital Management LLC
Janney Capital Management LLC bought a new position in shares of ABB Ltd (NYSE:ABB) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,517 shares of the industrial products company’s stock, valued at approximately $260,000.
A number of other large investors have also modified their holdings of ABB. Bank of Nova Scotia Trust Co. purchased a new stake in shares of ABB in the third quarter worth about $113,000. Cubist Systematic Strategies LLC lifted its holdings in shares of ABB by 296.7% in the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock worth $120,000 after buying an additional 3,590 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in shares of ABB in the second quarter worth about $120,000. IFP Advisors Inc lifted its holdings in shares of ABB by 71.0% in the second quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock worth $163,000 after buying an additional 2,721 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of ABB in the third quarter worth about $184,000. Hedge funds and other institutional investors own 4.76% of the company’s stock.
A number of equities research analysts have recently issued reports on ABB shares. Robert W. Baird set a $28.00 price target on shares of ABB and gave the stock a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research downgraded shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Goldman Sachs Group raised shares of ABB from a “neutral” rating to a “conviction-buy” rating in a report on Tuesday, October 31st. J P Morgan Chase & Co reissued a “neutral” rating on shares of ABB in a report on Friday, November 24th. Finally, Jefferies Group set a $20.00 price target on shares of ABB and gave the stock a “sell” rating in a report on Tuesday, November 28th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $24.50.
ABB (NYSE:ABB) last announced its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate 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 period last year, the firm posted $0.32 earnings per share. equities analysts anticipate that ABB Ltd will post 1.24 EPS for the current fiscal year.
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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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