ABB Ltd (ABB) Position Reduced by Neuberger Berman Group LLC
Neuberger Berman Group LLC decreased its position in shares of ABB Ltd (NYSE:ABB) by 14.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,412 shares of the industrial products company’s stock after selling 14,665 shares during the period. Neuberger Berman Group LLC’s holdings in ABB were worth $2,102,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Bank of Montreal Can increased its holdings in shares of ABB by 5.5% in the second quarter. Bank of Montreal Can now owns 47,187 shares of the industrial products company’s stock valued at $1,174,000 after buying an additional 2,447 shares in the last quarter. Atlantic Trust Group LLC increased its holdings in shares of ABB by 0.6% in the first quarter. Atlantic Trust Group LLC now owns 80,550 shares of the industrial products company’s stock valued at $1,884,000 after buying an additional 441 shares in the last quarter. Aperio Group LLC increased its holdings in shares of ABB by 4.8% in the second quarter. Aperio Group LLC now owns 834,910 shares of the industrial products company’s stock valued at $20,789,000 after buying an additional 38,467 shares in the last quarter. Boston Financial Mangement LLC increased its holdings in shares of ABB by 1.6% in the first quarter. Boston Financial Mangement LLC now owns 121,427 shares of the industrial products company’s stock valued at $2,841,000 after buying an additional 1,942 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of ABB in the first quarter valued at $800,000. 4.43% of the stock is currently owned by hedge funds and other institutional investors.
ABB Ltd (NYSE ABB) opened at 24.43 on Friday. ABB Ltd has a 52-week low of $20.26 and a 52-week high of $25.83. The firm’s 50-day moving average is $23.40 and its 200 day moving average is $23.98. The stock has a market capitalization of $52.13 billion, a PE ratio of 23.54 and a beta of 1.07.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts forecast that ABB Ltd will post $1.25 earnings per share for the current year.
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Several research analysts have issued reports on ABB shares. Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a report on Friday, June 9th. Robert W. Baird reaffirmed an “outperform” rating and issued a $28.00 price target (up previously from $27.00) on shares of ABB in a report on Friday, June 16th. Morgan Stanley reaffirmed a “buy” rating on shares of ABB in a report on Tuesday, June 13th. BidaskClub cut ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, UBS AG reaffirmed a “sell” rating on shares of ABB in a report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average 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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