Front Row Advisors LLC trimmed its holdings in shares of ABB Ltd (NYSE:ABBNY – Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 81,785 shares of the industrial products company’s stock after selling 1,071 shares during the period. ABB makes up approximately 1.3% of Front Row Advisors LLC’s holdings, making the stock its 17th largest position. Front Row Advisors LLC’s holdings in ABB were worth $2,805,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in ABBNY. Shelton Capital Management grew its position in ABB by 63.2% in the 1st quarter. Shelton Capital Management now owns 152,590 shares of the industrial products company’s stock worth $5,234,000 after purchasing an additional 59,090 shares during the period. Keel Point LLC bought a new stake in ABB in the 1st quarter worth approximately $217,000. SYSTM Wealth Solutions LLC bought a new stake in shares of ABB during the 4th quarter valued at $201,000. UBS Group AG grew its position in shares of ABB by 7.3% during the 1st quarter. UBS Group AG now owns 1,086,540 shares of the industrial products company’s stock valued at $37,268,000 after acquiring an additional 73,969 shares during the period. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of ABB during the 1st quarter valued at $255,000. 1.37% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com assumed coverage on shares of ABB in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.25.
ABB Stock Down 1.5 %
Shares of ABBNY stock opened at $36.24 on Wednesday. The stock has a market cap of $68.20 billion, a P/E ratio of 20.22, a PEG ratio of 2.90 and a beta of 1.11. ABB Ltd has a 52 week low of $24.27 and a 52 week high of $41.03. The company has a quick ratio of 0.78, a current ratio of 1.14 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $38.44 and its two-hundred day simple moving average is $36.53.
ABB (NYSE:ABBNY – Get Free Report) last announced its earnings results on Wednesday, July 19th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The business had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $7.47 billion. ABB had a net margin of 10.99% and a return on equity of 26.90%. Analysts predict that ABB Ltd will post 2.08 EPS for the current fiscal year.
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.
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