Keystone Financial Planning Inc. Has $3.23 Million Position in ABB Ltd (ABB)
Keystone Financial Planning Inc. decreased its position in shares of ABB Ltd (NYSE:ABB) by 44.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,656 shares of the industrial products company’s stock after selling 103,480 shares during the period. ABB comprises about 2.0% of Keystone Financial Planning Inc.’s holdings, making the stock its 27th largest position. Keystone Financial Planning Inc.’s holdings in ABB were worth $3,228,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Financial Architects Inc raised its stake in ABB by 2,404.2% in the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock worth $104,000 after buying an additional 4,015 shares during the last quarter. Ledyard National Bank raised its stake in ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock worth $108,000 after buying an additional 150 shares during the last quarter. Huntington National Bank raised its stake in ABB by 40.3% in the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock worth $137,000 after buying an additional 1,575 shares during the last quarter. IFP Advisors Inc raised its stake in ABB by 71.0% in the second quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock worth $163,000 after buying an additional 2,721 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in ABB during the first quarter worth about $206,000. Institutional investors own 4.03% of the company’s stock.
ABB Ltd (ABB) opened at 22.83 on Friday. The company’s 50-day moving average price is $24.26 and its 200 day moving average price is $23.93. ABB Ltd has a 52-week low of $20.26 and a 52-week high of $25.83. The stock has a market capitalization of $48.72 billion, a PE ratio of 21.99 and a beta of 1.06.
ABB (NYSE:ABB) last posted its quarterly earnings results 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. The business 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%. ABB’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. Equities analysts forecast that ABB Ltd will post $1.25 EPS for the current fiscal year.
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A number of analysts recently issued reports on ABB shares. Morgan Stanley reiterated a “buy” rating on shares of ABB in a research note on Thursday, April 27th. BidaskClub lowered ABB from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded 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. BNP Paribas lowered ABB from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Finally, Robert W. Baird reiterated 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. ABB presently has an average rating of “Hold” and a consensus price target of $24.25.
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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