Trillium Asset Management LLC Reduces Stake in ABB Ltd (ABB)
Trillium Asset Management LLC cut its position in ABB Ltd (NYSE:ABB) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,510 shares of the industrial products company’s stock after selling 296 shares during the period. Trillium Asset Management LLC’s holdings in ABB were worth $311,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust acquired a new position in ABB during the first quarter worth approximately $326,000. Bahl & Gaynor Inc. increased its position in ABB by 0.4% in the first quarter. Bahl & Gaynor Inc. now owns 13,355 shares of the industrial products company’s stock worth $313,000 after buying an additional 55 shares in the last quarter. Atlantic Trust Group LLC increased its position in ABB by 0.6% in the first quarter. Atlantic Trust Group LLC now owns 80,550 shares of the industrial products company’s stock worth $1,884,000 after buying an additional 441 shares in the last quarter. Aperio Group LLC increased its position in ABB by 4.8% in the second quarter. Aperio Group LLC now owns 834,910 shares of the industrial products company’s stock worth $20,789,000 after buying an additional 38,467 shares in the last quarter. Finally, Anderson Hoagland & Co. increased its position in 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 in the last quarter. 4.05% of the stock is owned by hedge funds and other institutional investors.
Shares of ABB Ltd (NYSE:ABB) opened at 23.21 on Thursday. The company has a market capitalization of $49.53 billion, a PE ratio of 22.36 and a beta of 1.06. The firm has a 50-day moving average of $24.05 and a 200 day moving average of $23.93. ABB Ltd has a 12 month low of $20.26 and a 12 month high of $25.83.
ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. The firm had revenue of $8.45 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities research analysts expect that ABB Ltd will post $1.25 earnings per share for the current fiscal year.
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ABB has been the subject of several analyst reports. Citigroup Inc. reissued a “sell” rating on shares of ABB in a report on Friday, June 9th. Morgan Stanley reissued a “buy” rating on shares of ABB in a report on Thursday, April 27th. Robert W. Baird reissued an “outperform” rating and set a $28.00 price target (up previously from $27.00) on shares of ABB in a report on Friday, June 16th. BidaskClub downgraded shares of ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, UBS AG reissued a “sell” rating on shares of ABB in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $24.25.
ABB Company Profile
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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