Perigon Wealth Management LLC Raises Stake in ABB Ltd (NYSE:ABB)

Perigon Wealth Management LLC boosted its holdings in shares of ABB Ltd (NYSE:ABB – Get Rating) by 26.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,005 shares of the industrial products company’s stock after purchasing an additional 2,291 shares during the period. Perigon Wealth Management LLC’s holdings in ABB were worth $282,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABB. Renaissance Technologies LLC grew its position in ABB by 913.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,213,000 shares of the industrial products company’s stock worth $32,423,000 after purchasing an additional 1,093,300 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of ABB by 3.3% in the 3rd quarter. Fisher Asset Management LLC now owns 20,668,051 shares of the industrial products company’s stock worth $530,342,000 after acquiring an additional 663,668 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of ABB by 132.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 675,973 shares of the industrial products company’s stock worth $17,344,000 after acquiring an additional 385,742 shares during the period. Chevy Chase Trust Holdings LLC lifted its stake in shares of ABB by 21.2% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 2,185,799 shares of the industrial products company’s stock worth $56,088,000 after acquiring an additional 382,644 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of ABB by 244.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 502,430 shares of the industrial products company’s stock worth $12,893,000 after acquiring an additional 356,500 shares during the period. 5.24% of the stock is owned by hedge funds and other institutional investors.

ABB Stock Performance

Shares of ABB opened at $31.99 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The stock has a market cap of $62.85 billion, a P/E ratio of 24.61, a PEG ratio of 3.18 and a beta of 1.10. The company has a 50-day moving average of $33.75 and a two-hundred day moving average of $30.52. ABB Ltd has a 12-month low of $24.27 and a 12-month high of $35.54.

Analysts Set New Price Targets

ABB has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of ABB in a research note on Thursday. They issued a “strong-buy” rating for the company. BNP Paribas cut shares of ABB from a “neutral” rating to an “underperform” rating in a research note on Wednesday, November 30th. Finally, Exane BNP Paribas cut shares of ABB from a “neutral” rating to an “underperform” rating in a research note on Wednesday, November 30th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ABB has a consensus rating of “Hold” and an average price target of $29.54.

About ABB

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ABB Ltd. is a technology company, which engages in the development and provision of electrification, motion and automation solutions. It operates through the following business segments: Electrification, Motion, Process Automation and Robotics & Discrete Automation. The Electrification segment manufactures and sells electrical products and solutions which are designed to provide safe, smart and sustainable electrical flow from the substation to the socket.