Goldman Sachs Group, Inc. (The) upgraded shares of ABB Ltd (NYSE:ABB) from a neutral rating to a conviction-buy rating in a research note issued to investors on Tuesday morning.

A number of other research analysts have also recently commented on ABB. BidaskClub cut shares of ABB from a buy rating to a hold rating in a research report on Tuesday, August 1st. Robert W. Baird reaffirmed a buy rating and issued a $29.00 target price on shares of ABB in a research report on Wednesday, October 4th. Zacks Investment Research cut shares of ABB from a hold rating to a sell rating in a research report on Tuesday, September 19th. UBS AG reaffirmed a sell rating on shares of ABB in a research report on Monday, July 24th. Finally, Morgan Stanley cut shares of ABB from an overweight rating to an equal weight rating in a research report on Friday, July 21st. Four research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $23.50.

ABB (NYSE:ABB) last posted its earnings results on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. ABB had a net margin of 6.79% and a return on equity of 18.65%. The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. ABB’s revenue for the quarter was up 5.7% compared to the same quarter last year.

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Institutional investors and hedge funds have recently modified their holdings of the company. Financial Architects Inc lifted its position in shares of ABB by 2,404.2% during the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 4,015 shares in the last quarter. Ledyard National Bank lifted its position in shares of ABB by 3.6% during the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 150 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of ABB by 296.7% during the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 3,590 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of ABB during the second quarter worth about $120,000. Finally, Huntington National Bank lifted its position in shares of ABB by 40.3% during the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 1,575 shares in the last quarter. 4.43% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for ABB (NYSE:ABB)

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