11,837 Shares in ABB Ltd (NYSE:ABB) Bought by Cerity Partners LLC

Cerity Partners LLC bought a new position in ABB Ltd (NYSE:ABBGet Rating) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 11,837 shares of the industrial products company’s stock, valued at approximately $317,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in ABB by 6.0% during the first quarter. Envestnet Asset Management Inc. now owns 685,462 shares of the industrial products company’s stock valued at $22,168,000 after acquiring an additional 38,869 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in ABB by 131.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 102,721 shares of the industrial products company’s stock valued at $3,322,000 after acquiring an additional 58,345 shares during the period. Fiduciary Trust Co. raised its holdings in ABB by 8.4% during the first quarter. Fiduciary Trust Co. now owns 6,808 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 530 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in ABB by 99.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 29,102 shares of the industrial products company’s stock valued at $777,000 after acquiring an additional 14,538 shares during the period. Finally, Scotia Capital Inc. increased its holdings in shares of ABB by 10.7% in the first quarter. Scotia Capital Inc. now owns 144,743 shares of the industrial products company’s stock worth $4,681,000 after purchasing an additional 13,951 shares during the last quarter. 5.41% of the stock is owned by institutional investors.

ABB Stock Performance

ABB stock opened at $30.72 on Monday. The company has a 50 day moving average price of $27.41 and a 200-day moving average price of $28.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.04. ABB Ltd has a fifty-two week low of $24.27 and a fifty-two week high of $39.11. The company has a market capitalization of $60.36 billion, a PE ratio of 15.13, a P/E/G ratio of 3.94 and a beta of 1.08.

Analyst Ratings Changes

ABB has been the topic of several research reports. Barclays reduced their target price on ABB from CHF 29 to CHF 26 in a report on Tuesday, October 4th. Deutsche Bank Aktiengesellschaft reduced their target price on ABB from CHF 28 to CHF 26.50 in a report on Wednesday, October 5th. Kepler Capital Markets cut ABB from a “buy” rating to a “hold” rating in a report on Monday, October 24th. StockNews.com lowered ABB from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 13th. Finally, The Goldman Sachs Group lowered ABB from a “conviction-buy” rating to a “buy” rating in a research report on Monday, October 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.54.

ABB Profile

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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.

Further Reading

Institutional Ownership by Quarter for ABB (NYSE:ABB)

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