US Bancorp DE Raises Holdings in ABB Ltd (ABB)

US Bancorp DE raised its position in ABB Ltd (NYSE:ABB) by 48.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 274,124 shares of the industrial products company’s stock after purchasing an additional 89,134 shares during the period. US Bancorp DE’s holdings in ABB were worth $7,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Scotia Capital Inc. lifted its position in shares of ABB by 2.2% during the 2nd quarter. Scotia Capital Inc. now owns 14,850 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 314 shares during the period. Private Advisor Group LLC lifted its position in shares of ABB by 19.4% during the 3rd quarter. Private Advisor Group LLC now owns 12,365 shares of the industrial products company’s stock valued at $308,000 after acquiring an additional 2,011 shares during the period. CIBC World Markets Inc. lifted its position in shares of ABB by 14.3% during the 4th quarter. CIBC World Markets Inc. now owns 16,963 shares of the industrial products company’s stock valued at $455,000 after acquiring an additional 2,121 shares during the period. FMR LLC lifted its position in shares of ABB by 1.8% during the 2nd quarter. FMR LLC now owns 125,332 shares of the industrial products company’s stock valued at $3,121,000 after acquiring an additional 2,230 shares during the period. Finally, Rockefeller Financial Services Inc. lifted its position in shares of ABB by 19.4% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 15,089 shares of the industrial products company’s stock valued at $373,000 after acquiring an additional 2,448 shares during the period. 4.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ABB Ltd (NYSE ABB) opened at $24.30 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. ABB Ltd has a 1 year low of $22.04 and a 1 year high of $28.67. The firm has a market capitalization of $52,390.00, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.52 and a beta of 1.06.

ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, February 8th. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.08. ABB had a return on equity of 18.37% and a net margin of 6.45%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the company earned $0.33 EPS. ABB’s revenue for the quarter was up 3.2% on a year-over-year basis. analysts predict that ABB Ltd will post 1.41 earnings per share for the current year.

A number of analysts have recently weighed in on the company. Robert W. Baird cut their target price on ABB from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday. Berenberg Bank upgraded ABB from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Zacks Investment Research downgraded ABB from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Jefferies Group set a $20.00 target price on ABB and gave the company a “sell” rating in a research report on Tuesday, November 28th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a research report on Friday, November 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $26.00.

ILLEGAL ACTIVITY NOTICE: “US Bancorp DE Raises Holdings in ABB Ltd (ABB)” was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://sportsperspectives.com/2018/02/10/us-bancorp-de-raises-holdings-in-abb-ltd-abb.html.

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.

Want to see what other hedge funds are holding ABB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ABB Ltd (NYSE:ABB).

Institutional Ownership by Quarter for ABB (NYSE:ABB)

Receive News & Ratings for ABB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply