Tower Research Capital LLC TRC Increases Position in ABB Ltd (NYSE:ABB)

Tower Research Capital LLC TRC increased its stake in shares of ABB Ltd (NYSE:ABB – Get Rating) by 159.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,839 shares of the industrial products company’s stock after buying an additional 6,043 shares during the quarter. Tower Research Capital LLC TRC’s holdings in ABB were worth $253,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. purchased a new position in shares of ABB in the 2nd quarter valued at approximately $29,000. Guardian Wealth Advisors LLC acquired a new position in ABB in the 3rd quarter valued at $40,000. Salem Investment Counselors Inc. raised its position 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 buying an additional 671 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of ABB by 23.5% in the 1st quarter. 1832 Asset Management L.P. now owns 2,135 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 406 shares during the period. Finally, Worm Capital LLC purchased a new stake in shares of ABB in the second quarter valued at about $78,000. Institutional investors and hedge funds own 5.24% of the company’s stock.

Analysts Set New Price Targets

ABB has been the topic of a number of analyst reports. BNP Paribas downgraded ABB from a “neutral” rating to an “underperform” rating in a research note on Wednesday, November 30th. StockNews.com raised shares of ABB from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 11th. Finally, Exane BNP Paribas cut shares of ABB from a “neutral” rating to an “underperform” rating in a research note on Wednesday, November 30th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.54.

ABB Stock Up 1.3 %

ABB stock opened at $34.16 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.18 and a quick ratio of 0.82. ABB Ltd has a 12 month low of $24.27 and a 12 month high of $35.54. The firm has a market capitalization of $63.71 billion, a PE ratio of 26.28, a P/E/G ratio of 3.36 and a beta of 1.10. The company’s 50 day simple moving average is $33.32 and its 200-day simple moving average is $30.22.

ABB Profile

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ABB Ltd. is a technology company, which engages in the development and provision of electrification, motion and automation solutions. It operates through the following business segments: Electrification, Motion, Process Automation and Robotics & Discrete Automation. The Electrification segment manufactures and sells electrical products and solutions which are designed to provide safe, smart and sustainable electrical flow from the substation to the socket.