Gradient Investments LLC Trims Holdings in ABB Ltd (NYSE:ABB)

Gradient Investments LLC decreased its holdings in ABB Ltd (NYSE:ABB – Get Rating) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,394 shares of the industrial products company’s stock after selling 489 shares during the period. Gradient Investments LLC’s holdings in ABB were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fisher Asset Management LLC increased its stake in ABB by 3.3% in the third quarter. Fisher Asset Management LLC now owns 20,668,051 shares of the industrial products company’s stock worth $530,342,000 after purchasing an additional 663,668 shares during the period. Royal Bank of Canada increased its stake in ABB by 2.2% in the first quarter. Royal Bank of Canada now owns 2,822,472 shares of the industrial products company’s stock worth $91,278,000 after purchasing an additional 61,975 shares during the period. Wells Fargo & Company MN increased its stake in ABB by 0.5% in the second quarter. Wells Fargo & Company MN now owns 2,408,049 shares of the industrial products company’s stock worth $64,366,000 after purchasing an additional 13,040 shares during the period. First Trust Advisors LP increased its stake in shares of ABB by 8.2% during the third quarter. First Trust Advisors LP now owns 2,392,071 shares of the industrial products company’s stock valued at $61,380,000 after buying an additional 182,201 shares during the period. Finally, Chevy Chase Trust Holdings LLC increased its stake in shares of ABB by 21.2% during the third quarter. Chevy Chase Trust Holdings LLC now owns 2,185,799 shares of the industrial products company’s stock valued at $56,088,000 after buying an additional 382,644 shares during the period. Hedge funds and other institutional investors own 5.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABB shares. StockNews.com started coverage on ABB in a research note on Thursday. They set a “strong-buy” rating on the stock. Exane BNP Paribas lowered ABB from a “neutral” rating to an “underperform” rating in a research note on Wednesday, November 30th. Finally, BNP Paribas lowered 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 given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ABB has a consensus rating of “Hold” and a consensus target price of $29.54.

ABB Price Performance

Shares of ABB stock opened at $31.99 on Friday. ABB Ltd has a 1-year low of $24.27 and a 1-year high of $35.54. The stock’s 50-day moving average is $33.75 and its 200 day moving average is $30.52. The company has a market cap of $62.85 billion, a P/E ratio of 24.61, a PEG ratio of 3.18 and a beta of 1.10. 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 Company 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.