Freestone Capital Holdings LLC Grows Stock Holdings in ABB Ltd (NYSE:ABBNY)

Freestone Capital Holdings LLC raised its position in shares of ABB Ltd (NYSE:ABBNY) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,438 shares of the industrial products company’s stock after buying an additional 548 shares during the quarter. Freestone Capital Holdings LLC’s holdings in ABB were worth $667,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ABBNY. Millennium Management LLC increased its holdings in shares of ABB by 260.8% during the fourth quarter. Millennium Management LLC now owns 596,554 shares of the industrial products company’s stock valued at $18,171,000 after acquiring an additional 431,194 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of ABB by 170.8% during the fourth quarter. Renaissance Technologies LLC now owns 585,400 shares of the industrial products company’s stock valued at $17,831,000 after acquiring an additional 369,200 shares in the last quarter. Morgan Stanley increased its holdings in shares of ABB by 5.9% during the fourth quarter. Morgan Stanley now owns 5,316,270 shares of the industrial products company’s stock valued at $161,934,000 after acquiring an additional 295,580 shares in the last quarter. Cerity Partners LLC increased its holdings in ABB by 1,100.9% in the 4th quarter. Cerity Partners LLC now owns 235,442 shares of the industrial products company’s stock worth $7,172,000 after buying an additional 215,837 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in ABB by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,946,711 shares of the industrial products company’s stock worth $62,956,000 after buying an additional 203,012 shares during the last quarter. 1.37% of the stock is owned by hedge funds and other institutional investors.

ABB Price Performance

ABB stock opened at $36.71 on Monday. The company’s fifty day moving average price is $38.50 and its 200 day moving average price is $36.49. ABB Ltd has a 1 year low of $24.27 and a 1 year high of $41.03. The stock has a market capitalization of $69.09 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.90 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 1.14.

ABB (NYSE:ABBNY) last announced 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 business had revenue of $8.16 billion for the quarter, compared to analyst estimates of $7.47 billion. As a group, equities research analysts anticipate that ABB Ltd will post 2.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of ABB in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.