Sonora Investment Management LLC Lowers Stake in ABB Ltd (ABB)

Sonora Investment Management LLC lowered its holdings in ABB Ltd (NYSE:ABB) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,805 shares of the industrial products company’s stock after selling 6,510 shares during the period. ABB makes up about 1.0% of Sonora Investment Management LLC’s holdings, making the stock its 16th biggest position. Sonora Investment Management LLC’s holdings in ABB were worth $7,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC raised its position in shares of ABB by 23.4% in the second quarter. Sterling Capital Management LLC now owns 14,997 shares of the industrial products company’s stock valued at $326,000 after purchasing an additional 2,844 shares during the period. Whittier Trust Co. increased its holdings in ABB by 30.8% during the 2nd quarter. Whittier Trust Co. now owns 12,208 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 2,875 shares during the period. Checchi Capital Advisers LLC increased its holdings in ABB by 17.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 19,777 shares of the industrial products company’s stock worth $431,000 after acquiring an additional 2,882 shares during the period. Sawtooth Solutions LLC increased its holdings in ABB by 34.3% during the 2nd quarter. Sawtooth Solutions LLC now owns 13,015 shares of the industrial products company’s stock worth $283,000 after acquiring an additional 3,327 shares during the period. Finally, Thompson Investment Management Inc. increased its holdings in ABB by 2.4% during the 2nd quarter. Thompson Investment Management Inc. now owns 178,282 shares of the industrial products company’s stock worth $3,881,000 after acquiring an additional 4,160 shares during the period. 5.29% of the stock is currently owned by institutional investors.

ABB stock traded down $0.15 during midday trading on Thursday, reaching $21.22. The company had a trading volume of 250,873 shares, compared to its average volume of 2,136,218. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.85. ABB Ltd has a 1 year low of $21.01 and a 1 year high of $28.67. The stock has a market cap of $50.54 billion, a PE ratio of 17.09, a P/E/G ratio of 2.50 and a beta of 1.19.

ABB (NYSE:ABB) last released its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. ABB had a net margin of 6.24% and a return on equity of 19.94%. The business had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $9.03 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that ABB Ltd will post 1.38 EPS for the current fiscal year.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of ABB from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of ABB in a report on Thursday. ValuEngine raised shares of ABB from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Jefferies Financial Group raised shares of ABB from an “underperform” rating to a “hold” rating and set a $23.00 target price on the stock in a report on Wednesday, July 11th. Finally, Societe Generale raised shares of ABB from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $25.67.

ABB Company Profile

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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