ABB Ltd (NYSE:ABB – Get Rating) has been given an average recommendation of “Hold” by the sixteen analysts that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $33.03.
Several brokerages recently weighed in on ABB. Bank of America cut shares of ABB from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 6th. Morgan Stanley boosted their price target on shares of ABB from CHF 27 to CHF 27.20 in a research report on Tuesday, July 5th. UBS Group reduced their price target on shares of ABB from CHF 37 to CHF 35 in a research report on Friday, July 22nd. Citigroup cut shares of ABB from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. Finally, Stifel Nicolaus began coverage on shares of ABB in a research report on Thursday, June 30th. They issued a “buy” rating on the stock.
Institutional Trading of ABB
A number of large investors have recently made changes to their positions in ABB. Dimensional Fund Advisors LP boosted its stake in shares of ABB by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 54,683 shares of the industrial products company’s stock valued at $2,087,000 after purchasing an additional 4,852 shares during the period. BNP Paribas Arbitrage SA lifted its stake in ABB by 47.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 5,416 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 1,754 shares during the period. Donoghue Forlines LLC purchased a new stake in ABB in the fourth quarter worth about $761,000. Allianz Asset Management GmbH lifted its stake in ABB by 133.5% in the fourth quarter. Allianz Asset Management GmbH now owns 17,515 shares of the industrial products company’s stock worth $669,000 after acquiring an additional 10,015 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in ABB by 5.0% in the fourth quarter. Eagle Asset Management Inc. now owns 22,116 shares of the industrial products company’s stock worth $843,000 after acquiring an additional 1,046 shares during the period. 5.41% of the stock is owned by hedge funds and other institutional investors.
ABB Trading Down 2.7 %
ABB Company Profile
ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
- Get a free copy of the StockNews.com research report on ABB (ABB)
- Kroger’s is Your One-Stop Consumer Staples Stock
- Adobe Perfects the Art of the Faceplant for Investors
- Tax Credits are the Incentives in the Inflation Reduction Act
- Stock Market: 3 Islands Of Strength In A Sea Of Red
- 3 Banks Worth Considering For Q4
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.