Raymond James & Associates Sells 230,559 Shares of ABB Ltd (NYSE:ABB)

Raymond James & Associates decreased its position in shares of ABB Ltd (NYSE:ABBGet Rating) by 29.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 548,562 shares of the industrial products company’s stock after selling 230,559 shares during the period. Raymond James & Associates’ holdings in ABB were worth $14,076,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABB. Trustcore Financial Services LLC raised its stake in ABB by 66.5% during the 2nd quarter. Trustcore Financial Services LLC now owns 941 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 376 shares during the period. Ronald Blue Trust Inc. bought a new stake in ABB during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its stake in ABB by 146.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,450 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 862 shares during the period. Salem Investment Counselors Inc. raised its stake in ABB by 62.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,742 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 671 shares during the period. Finally, Rosenberg Matthew Hamilton bought a new stake in ABB during the 2nd quarter worth approximately $50,000. Institutional investors own 5.24% of the company’s stock.

ABB Trading Up 0.9 %

ABB stock opened at $32.80 on Tuesday. The firm has a fifty day moving average price of $30.65 and a 200 day moving average price of $28.68. ABB Ltd has a fifty-two week low of $24.27 and a fifty-two week high of $38.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.04. The firm has a market cap of $64.44 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 3.42 and a beta of 1.09.

ABB (NYSE:ABBGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The industrial products company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.50 billion. ABB had a return on equity of 15.21% and a net margin of 13.65%. Sell-side analysts anticipate that ABB Ltd will post 1.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ABB shares. StockNews.com cut shares of ABB from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 26th. Barclays reduced their price objective on shares of ABB from CHF 29 to CHF 26 in a research report on Tuesday, October 4th. Kepler Capital Markets cut shares of ABB from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. The Goldman Sachs Group cut shares of ABB from a “conviction-buy” rating to a “buy” rating in a research report on Monday, October 31st. Finally, Exane BNP Paribas cut shares of ABB from a “neutral” rating to an “underperform” rating in a research report on Wednesday, November 30th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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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