Oppenheimer Asset Management Inc. Increases Position in ABB Ltd (NYSE:ABBNY)

Oppenheimer Asset Management Inc. increased its stake in ABB Ltd (NYSE:ABBNY) by 8.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,831 shares of the industrial products company’s stock after purchasing an additional 1,120 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ABB were worth $474,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in ABB in the 1st quarter valued at about $1,056,000. Vanguard Personalized Indexing Management LLC grew its stake in ABB by 5.6% in the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 48,752 shares of the industrial products company’s stock valued at $1,672,000 after acquiring an additional 2,573 shares during the last quarter. LPL Financial LLC grew its stake in ABB by 41.1% in the 1st quarter. LPL Financial LLC now owns 237,973 shares of the industrial products company’s stock valued at $8,162,000 after acquiring an additional 69,360 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in ABB by 2,948.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,096 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 5,896 shares during the last quarter. Finally, Innovis Asset Management LLC grew its stake in ABB by 5.5% in the 1st quarter. Innovis Asset Management LLC now owns 27,111 shares of the industrial products company’s stock valued at $930,000 after acquiring an additional 1,405 shares during the last quarter. Hedge funds and other institutional investors own 1.37% of the company’s stock.

ABB Price Performance

ABB stock opened at $37.78 on Tuesday. ABB Ltd has a 12-month low of $24.27 and a 12-month high of $41.03. The stock has a market capitalization of $71.10 billion, a P/E ratio of 20.76, a P/E/G ratio of 3.04 and a beta of 1.10. The firm’s 50-day moving average is $38.69 and its two-hundred day moving average is $36.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.14 and a quick ratio of 0.78.

ABB (NYSE:ABBNY) last released its earnings results on Wednesday, July 19th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). ABB had a return on equity of 26.90% and a net margin of 10.99%. The company had revenue of $8.16 billion during the quarter, compared to analyst estimates of $7.47 billion. Equities analysts predict that ABB Ltd will post 1.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of ABB in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.25.

ABB Profile

ABB Ltd manufactures and sells 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, switchboards and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.