CIBC World Markets Inc. acquired a new stake in shares of ABB Ltd (NYSE:ABB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,412 shares of the industrial products company’s stock, valued at approximately $434,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ABB. Wellington Management Group LLP boosted its stake in shares of ABB by 93.8% during the first quarter. Wellington Management Group LLP now owns 20,250,046 shares of the industrial products company’s stock valued at $473,851,000 after acquiring an additional 9,801,313 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of ABB by 1,084.0% during the second quarter. Fisher Asset Management LLC now owns 8,281,858 shares of the industrial products company’s stock valued at $206,218,000 after acquiring an additional 7,582,360 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of ABB by 6,598.1% during the second quarter. First Trust Advisors LP now owns 849,384 shares of the industrial products company’s stock valued at $21,150,000 after acquiring an additional 836,703 shares during the last quarter. Folketrygdfondet boosted its stake in shares of ABB by 41.0% during the second quarter. Folketrygdfondet now owns 2,787,278 shares of the industrial products company’s stock valued at $69,403,000 after acquiring an additional 810,000 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. boosted its stake in shares of ABB by 999.5% during the second quarter. Bowen Hanes & Co. Inc. now owns 786,265 shares of the industrial products company’s stock valued at $19,578,000 after acquiring an additional 714,755 shares during the last quarter. 4.42% of the stock is currently owned by institutional investors and hedge funds.

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Shares of ABB Ltd (NYSE:ABB) opened at 24.60 on Thursday. The stock has a market capitalization of $52.50 billion, a P/E ratio of 23.70 and a beta of 1.07. ABB Ltd has a one year low of $20.26 and a one year high of $25.83. The company’s 50 day moving average price is $23.46 and its 200 day moving average price is $24.02.

ABB (NYSE:ABB) last released 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 company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.55 billion. ABB had a return on equity of 18.62% and a net margin of 6.87%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 EPS. On average, equities analysts expect that ABB Ltd will post $1.25 earnings per share for the current year.

A number of brokerages have issued reports on ABB. Citigroup Inc. reissued a “sell” rating on shares of ABB in a research note on Friday, June 9th. Robert W. Baird reissued an “outperform” rating and issued a $28.00 price target (up from $27.00) on shares of ABB in a research note on Friday, June 16th. Morgan Stanley reissued a “buy” rating on shares of ABB in a research note on Thursday, June 22nd. BidaskClub lowered ABB from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, UBS AG reissued a “sell” rating on shares of ABB in a research note on Monday, July 24th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. ABB presently has an average rating of “Hold” and a consensus price target 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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