Portland Global Advisors LLC Has $1.87 Million Position in ABB Ltd (ABB)
Portland Global Advisors LLC increased its position in shares of ABB Ltd (NYSE:ABB) by 0.3% during the first quarter, Holdings Channel reports. The fund owned 79,915 shares of the industrial products company’s stock after buying an additional 235 shares during the period. Portland Global Advisors LLC’s holdings in ABB were worth $1,870,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Marietta Investment Partners LLC bought a new position in ABB during the third quarter worth $1,775,000. Northern Trust Corp boosted its position in ABB by 27.9% in the third quarter. Northern Trust Corp now owns 2,884,725 shares of the industrial products company’s stock worth $64,934,000 after buying an additional 629,186 shares during the last quarter. Diversified Investment Strategies LLC boosted its position in ABB by 0.3% in the third quarter. Diversified Investment Strategies LLC now owns 147,425 shares of the industrial products company’s stock worth $3,319,000 after buying an additional 400 shares during the last quarter. Neuberger Berman Group LLC boosted its position in ABB by 11.8% in the third quarter. Neuberger Berman Group LLC now owns 102,830 shares of the industrial products company’s stock worth $2,315,000 after buying an additional 10,843 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in ABB by 46.7% in the third quarter. First Trust Advisors LP now owns 73,952 shares of the industrial products company’s stock worth $1,665,000 after buying an additional 23,535 shares during the last quarter. 3.08% of the stock is currently owned by hedge funds and other institutional investors.
ABB Ltd (NYSE:ABB) traded up 0.360% on Tuesday, reaching $22.175. The company had a trading volume of 921,354 shares. The stock has a market capitalization of $47.43 billion, a P/E ratio of 25.285 and a beta of 1.23. ABB Ltd has a 1-year low of $18.72 and a 1-year high of $23.90. The stock’s 50 day moving average is $22.99 and its 200-day moving average is $22.16.
ABB (NYSE:ABB) last announced its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The business had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.93 billion. ABB had a return on equity of 18.00% and a net margin of 5.80%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 earnings per share. On average, equities analysts predict that ABB Ltd will post $1.17 EPS for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Thursday, April 20th will be issued a $0.7546 dividend. This represents a dividend yield of 3.28%. The ex-dividend date is Tuesday, April 18th. ABB’s dividend payout ratio is presently 79.35%.
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A number of research analysts recently commented on ABB shares. Bank of America Corp raised ABB from a “neutral” rating to a “buy” rating in a report on Tuesday, January 10th. Natixis raised ABB from a “neutral” rating to a “buy” rating in a report on Wednesday, February 8th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a report on Monday, January 23rd. Royal Bank of Canada raised ABB from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 25th. Finally, Zacks Investment Research raised ABB from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, December 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.50.
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.
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