Thomas White International Ltd. Acquires 4,045 Shares of ABB Ltd (NYSE:ABBNY)

Thomas White International Ltd. raised its holdings in ABB Ltd (NYSE:ABBNY) by 35.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,302 shares of the industrial products company’s stock after purchasing an additional 4,045 shares during the period. Thomas White International Ltd.’s holdings in ABB were worth $525,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Money Concepts Capital Corp acquired a new position in ABB in the fourth quarter valued at about $25,000. Resurgent Financial Advisors LLC acquired a new position in shares of ABB in the 4th quarter valued at approximately $27,000. SG3 Management LLC bought a new stake in shares of ABB during the 4th quarter worth approximately $30,000. Larson Financial Group LLC acquired a new stake in shares of ABB during the 1st quarter worth approximately $30,000. Finally, Tower Research Capital LLC TRC increased its stake in ABB by 225.5% in the first quarter. Tower Research Capital LLC TRC now owns 1,224 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 848 shares during the last quarter. Institutional investors and hedge funds own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on ABB in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.25.

ABB Trading Down 1.5 %

Shares of NYSE ABBNY traded down $0.57 during midday trading on Friday, reaching $36.71. The stock had a trading volume of 134,598 shares, compared to its average volume of 302,274. The company’s 50 day moving average price is $38.50 and its 200 day moving average price is $36.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 1.14. ABB Ltd has a twelve month low of $24.27 and a twelve month high of $41.03. The firm has a market cap of $69.09 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11.

ABB (NYSE:ABBNY) last posted its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). ABB had a return on equity of 26.90% and a net margin of 10.99%. The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $7.47 billion. As a group, sell-side analysts expect that ABB Ltd will post 2.08 EPS for the current year.

About ABB

ABB Ltd manufactures and sells 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, switchboards 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.