Crossmark Global Holdings Inc. cut its stake in shares of ABB Ltd (NYSE:ABB) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,958 shares of the industrial products company’s stock after selling 2,722 shares during the period. Crossmark Global Holdings Inc.’s holdings in ABB were worth $3,757,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in shares of ABB by 8.0% during the 3rd quarter. Signaturefd LLC now owns 8,329 shares of the industrial products company’s stock worth $164,000 after acquiring an additional 618 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of ABB by 35.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 472,960 shares of the industrial products company’s stock worth $9,303,000 after acquiring an additional 122,841 shares in the last quarter. Biechele Royce Advisors bought a new stake in shares of ABB during the 3rd quarter worth about $6,006,000. Cardinal Capital Management boosted its stake in shares of ABB by 1.5% during the 3rd quarter. Cardinal Capital Management now owns 93,519 shares of the industrial products company’s stock worth $1,839,000 after acquiring an additional 1,353 shares in the last quarter. Finally, Coastline Trust Co boosted its stake in shares of ABB by 157.5% during the 3rd quarter. Coastline Trust Co now owns 28,040 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 17,150 shares in the last quarter. Institutional investors own 4.60% of the company’s stock.
Several analysts have recently issued reports on the company. DZ Bank downgraded ABB from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. ValuEngine downgraded ABB from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. UBS Group upgraded ABB from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 10th. Barclays assumed coverage on ABB in a research note on Monday, December 9th. They set an “overweight” rating for the company. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of ABB in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. ABB currently has an average rating of “Hold” and a consensus price target of $20.60.
Shares of NYSE:ABB opened at $24.19 on Friday. The business has a 50 day moving average price of $24.02 and a 200 day moving average price of $21.25. ABB Ltd has a twelve month low of $17.71 and a twelve month high of $25.30. The company has a market cap of $52.00 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 3.88 and a beta of 1.16. The company has a quick ratio of 1.10, a current ratio of 1.31 and a debt-to-equity ratio of 0.54.
ABB (NYSE:ABB) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). ABB had a net margin of 5.14% and a return on equity of 18.71%. The business had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the company earned $0.30 EPS. ABB’s revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts anticipate that ABB Ltd will post 1.01 EPS for the current year.
ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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