Tdam USA Inc. boosted its position in shares of ABB Ltd (NYSE:ABB) by 21.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 16,237 shares of the industrial products company’s stock after buying an additional 2,897 shares during the period. Tdam USA Inc.’s holdings in ABB were worth $402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capstone Asset Management Co. boosted its position in ABB by 3.8% in the first quarter. Capstone Asset Management Co. now owns 194,180 shares of the industrial products company’s stock worth $4,544,000 after buying an additional 7,150 shares in the last quarter. Horrell Capital Management Inc. boosted its position in ABB by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the industrial products company’s stock worth $638,000 after buying an additional 100 shares in the last quarter. Atria Investments LLC purchased a new position in ABB during the first quarter worth approximately $221,000. Fox Run Management L.L.C. purchased a new position in ABB during the first quarter worth approximately $260,000. Finally, Portland Global Advisors LLC boosted its position in ABB by 0.3% in the first quarter. Portland Global Advisors LLC now owns 79,915 shares of the industrial products company’s stock worth $1,870,000 after buying an additional 235 shares in the last quarter. 4.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of ABB Ltd (NYSE ABB) opened at 23.26 on Thursday. The company has a 50 day moving average price of $24.40 and a 200 day moving average price of $23.94. ABB Ltd has a 1-year low of $20.26 and a 1-year high of $25.83. The company has a market capitalization of $49.64 billion, a PE ratio of 22.41 and a beta of 1.06.

ABB (NYSE:ABB) last issued its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by $0.03. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.55 billion. ABB had a net margin of 6.87% and a return on equity of 18.62%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share. Equities analysts predict that ABB Ltd will post $1.25 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on the company. Morgan Stanley reaffirmed a “buy” rating on shares of ABB in a research note on Tuesday, April 18th. Zacks Investment Research cut ABB from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. BNP Paribas cut ABB from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a research note on Friday, June 9th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $28.00 price objective (up from $27.00) on shares of ABB in a research note on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $24.25.

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.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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