Airain ltd Has $1.29 Million Stake in ABB Ltd (NYSE:ABB)

Airain ltd boosted its stake in ABB Ltd (NYSE:ABB) by 33.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,797 shares of the industrial products company’s stock after acquiring an additional 12,904 shares during the period. Airain ltd’s holdings in ABB were worth $1,290,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Zweig DiMenna Associates LLC bought a new stake in ABB in the second quarter valued at $9,533,000. Van Cleef Asset Management Inc boosted its holdings in shares of ABB by 1.4% during the 2nd quarter. Van Cleef Asset Management Inc now owns 36,099 shares of the industrial products company’s stock valued at $899,000 after buying an additional 500 shares in the last quarter. Tocqueville Asset Management L.P. boosted its holdings in shares of ABB by 22.8% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 67,736 shares of the industrial products company’s stock valued at $1,687,000 after buying an additional 12,590 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of ABB by 13.9% during the 2nd quarter. William Blair Investment Management LLC now owns 162,744 shares of the industrial products company’s stock valued at $4,052,000 after buying an additional 19,833 shares in the last quarter. Finally, Marshall Wace North America L.P. boosted its holdings in shares of ABB by 32.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 139,421 shares of the industrial products company’s stock valued at $3,486,000 after buying an additional 34,147 shares in the last quarter. Institutional investors and hedge funds own 4.43% of the company’s stock.

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A number of brokerages have recently commented on ABB. Robert W. Baird restated an “outperform” rating and set a $28.00 target price (up previously from $27.00) on shares of ABB in a report on Friday, June 16th. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating and set a $28.00 price target for the company in a research report on Monday, June 12th. Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a research report on Friday, June 9th. Morgan Stanley reaffirmed a “buy” rating on shares of ABB in a research report on Thursday, June 22nd. Finally, BNP Paribas lowered ABB from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 23rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $24.25.

Shares of ABB Ltd (NYSE ABB) opened at 24.43 on Friday. The stock’s 50 day moving average is $23.40 and its 200 day moving average is $23.98. ABB Ltd has a 52-week low of $20.26 and a 52-week high of $25.83. The stock has a market cap of $52.13 billion, a price-to-earnings ratio of 23.54 and a beta of 1.07.

ABB (NYSE:ABB) last announced its earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.55 billion. ABB had a net margin of 6.87% and a return on equity of 18.62%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. On average, equities analysts predict that ABB Ltd will post $1.25 EPS for the current fiscal year.

About ABB

ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.

Institutional Ownership by Quarter for ABB (NYSE:ABB)

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