Janney Montgomery Scott LLC raised its position in shares of ABB Ltd (NYSE:ABB) by 49.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 54,805 shares of the industrial products company’s stock after buying an additional 18,084 shares during the period. Janney Montgomery Scott LLC’s holdings in ABB were worth $1,365,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Hamlin Capital Management LLC boosted its position in shares of ABB by 7.0% in the first quarter. Hamlin Capital Management LLC now owns 3,456,624 shares of the industrial products company’s stock worth $80,885,000 after buying an additional 226,870 shares during the last quarter. Mondrian Investment Partners LTD boosted its position in shares of ABB by 16.3% in the first quarter. Mondrian Investment Partners LTD now owns 2,109,380 shares of the industrial products company’s stock worth $49,359,000 after buying an additional 295,796 shares during the last quarter. Van Cleef Asset Management Inc boosted its position in shares of ABB by 2.4% in the first quarter. Van Cleef Asset Management Inc now owns 35,599 shares of the industrial products company’s stock worth $833,000 after buying an additional 850 shares during the last quarter. Guardian Investment Management boosted its position in shares of ABB by 112.0% in the first quarter. Guardian Investment Management now owns 37,710 shares of the industrial products company’s stock worth $789,000 after buying an additional 19,920 shares during the last quarter. Finally, Anderson Hoagland & Co. boosted its position in shares of ABB by 19.9% in the first quarter. Anderson Hoagland & Co. now owns 24,095 shares of the industrial products company’s stock worth $564,000 after buying an additional 4,000 shares during the last quarter. 4.03% of the stock is currently owned by hedge funds and other institutional investors.

ABB Ltd (NYSE:ABB) opened at 22.82 on Friday. ABB Ltd has a 12 month low of $20.26 and a 12 month high of $25.83. The stock’s 50 day moving average is $24.33 and its 200-day moving average is $23.93. The company has a market capitalization of $48.70 billion, a PE ratio of 21.98 and a beta of 1.06.

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

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A number of equities analysts have issued reports on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $28.00 price objective (up from $27.00) on shares of ABB in a research note on Friday, June 16th. Zacks Investment Research raised shares of ABB from a “sell” rating to a “hold” rating and set a $28.00 price objective on the stock in a research note on Monday, June 12th. Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a research note on Friday, June 9th. Morgan Stanley reaffirmed a “buy” rating on shares of ABB in a research note on Thursday, June 22nd. Finally, BNP Paribas cut shares of ABB from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. ABB currently has an average 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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