Cwm LLC Increases Position in ABB Ltd (NYSE:ABB)

Cwm LLC lifted its position in shares of ABB Ltd (NYSE:ABBGet Rating) by 28.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,925 shares of the industrial products company’s stock after buying an additional 873 shares during the period. Cwm LLC’s holdings in ABB were worth $101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ABB. Renaissance Technologies LLC raised its stake in ABB by 913.4% during the second 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 period. Folketrygdfondet raised its stake in shares of ABB by 3,098.9% in the 2nd quarter. Folketrygdfondet now owns 644,925 shares of the industrial products company’s stock valued at $17,239,000 after acquiring an additional 624,764 shares during the period. Advocate Group LLC purchased a new position in shares of ABB in the 2nd quarter valued at $5,782,000. Goldman Sachs Group Inc. raised its stake in shares of ABB by 11.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,946,711 shares of the industrial products company’s stock valued at $62,956,000 after acquiring an additional 203,012 shares during the period. Finally, Addenda Capital Inc. purchased a new position in shares of ABB in the 3rd quarter valued at $4,324,000. Hedge funds and other institutional investors own 5.24% of the company’s stock.

ABB Price Performance

Shares of ABB stock opened at $34.10 on Wednesday. The firm has a market cap of $67.00 billion, a P/E ratio of 16.80, a P/E/G ratio of 3.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.04 and a quick ratio of 0.70. ABB Ltd has a 1-year low of $24.27 and a 1-year high of $37.67. The firm has a fifty day moving average of $31.28 and a two-hundred day moving average of $28.96.

ABB (NYSE:ABBGet Rating) last posted its quarterly earnings results 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). ABB had a net margin of 13.65% and a return on equity of 15.21%. The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.50 billion. As a group, research analysts anticipate that ABB Ltd will post 1.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Kepler Capital Markets downgraded shares of ABB from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. BNP Paribas lowered shares of ABB from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 30th. Exane BNP Paribas lowered shares of ABB from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 30th. Barclays lowered their price target on shares of ABB from CHF 29 to CHF 26 in a report on Tuesday, October 4th. Finally, The Goldman Sachs Group lowered shares of ABB from a “conviction-buy” rating to a “buy” rating in a report on Monday, October 31st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ABB presently has a consensus rating of “Hold” and an average target price of $29.54.

About ABB

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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.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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