Atria Investments LLC Cuts Stock Holdings in ABB Ltd (NYSE:ABB)

Atria Investments LLC trimmed its position in shares of ABB Ltd (NYSE:ABBGet Rating) by 34.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,340 shares of the industrial products company’s stock after selling 22,093 shares during the quarter. Atria Investments LLC’s holdings in ABB were worth $1,086,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Trustcore Financial Services LLC increased its holdings in shares of ABB by 66.5% during the 2nd quarter. Trustcore Financial Services LLC now owns 941 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 376 shares in the last quarter. Ronald Blue Trust Inc. purchased a new position in shares of ABB during the 2nd quarter valued at approximately $29,000. Salem Investment Counselors Inc. increased its holdings in ABB by 62.7% in 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 in the last quarter. Rosenberg Matthew Hamilton purchased a new stake in ABB in the 2nd quarter worth $50,000. Finally, Allworth Financial LP increased its holdings in ABB by 99.0% in the 2nd quarter. Allworth Financial LP now owns 2,278 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 1,133 shares in the last quarter. 5.24% of the stock is owned by hedge funds and other institutional investors.

ABB Trading Down 1.5 %

Shares of ABB stock opened at $33.47 on Friday. The company’s 50-day moving average price is $31.44 and its 200-day moving average price is $29.03. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market cap of $65.76 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 3.53 and a beta of 1.09. ABB Ltd has a twelve month low of $24.27 and a twelve month high of $37.67.

ABB (NYSE:ABBGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The industrial products company reported $0.20 earnings per share 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 analyst estimates of $7.50 billion. ABB had a net margin of 13.65% and a return on equity of 15.21%. As a group, equities analysts predict that ABB Ltd will post 1.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ABB shares. BNP Paribas lowered shares of ABB from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 30th. StockNews.com raised shares of ABB from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 11th. Exane BNP Paribas lowered shares of ABB from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 30th. The Goldman Sachs Group cut shares of ABB from a “conviction-buy” rating to a “buy” rating in a research note on Monday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of ABB from CHF 28 to CHF 26.50 in a research note on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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