Private Advisor Group LLC Invests $1.06 Million in ABB Ltd (NYSE:ABBNY)

Private Advisor Group LLC purchased a new position in shares of ABB Ltd (NYSE:ABBNY) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,800 shares of the industrial products company’s stock, valued at approximately $1,056,000.

A number of other hedge funds also recently modified their holdings of the business. Morgan Stanley lifted its holdings in ABB by 5.9% in the fourth quarter. Morgan Stanley now owns 5,316,270 shares of the industrial products company’s stock valued at $161,934,000 after buying an additional 295,580 shares during the period. Royal Bank of Canada lifted its holdings 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 valued at $91,278,000 after buying an additional 61,975 shares during the period. Chevy Chase Trust Holdings LLC increased its stake in ABB by 8.0% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 2,360,851 shares of the industrial products company’s stock valued at $71,912,000 after purchasing an additional 175,052 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in ABB by 1.7% in the second quarter. Goldman Sachs Group Inc. now owns 1,978,913 shares of the industrial products company’s stock valued at $52,896,000 after purchasing an additional 32,202 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in ABB by 7.6% in the first quarter. First Trust Advisors LP now owns 1,745,567 shares of the industrial products company’s stock valued at $56,452,000 after purchasing an additional 122,855 shares in the last quarter. Institutional investors and hedge funds own 1.37% of the company’s stock.

ABB Trading Up 1.5 %

NYSE:ABBNY opened at $37.78 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.14 and a quick ratio of 0.78. The firm has a 50-day moving average of $38.69 and a 200-day moving average of $36.27. The company has a market cap of $71.10 billion, a PE ratio of 20.76, a PEG ratio of 3.04 and a beta of 1.10. ABB Ltd has a one year low of $24.27 and a one year high of $41.03.

ABB (NYSE:ABBNY) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). ABB had a return on equity of 26.90% and a net margin of 10.99%. The firm had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $7.47 billion. As a group, equities research analysts expect that ABB Ltd will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of ABB in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Two equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.25.

ABB Company 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.