Pittenger & Anderson Inc. Has $1.33 Million Stake in ABB Ltd (ABB)
Pittenger & Anderson Inc. increased its position in shares of ABB Ltd (NYSE:ABB) by 27.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,400 shares of the industrial products company’s stock after buying an additional 10,750 shares during the quarter. Pittenger & Anderson Inc.’s holdings in ABB were worth $1,325,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its position in shares of ABB by 512.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 508,400 shares of the industrial products company’s stock valued at $12,583,000 after buying an additional 425,400 shares during the period. Oppenheimer & Co. Inc. increased its holdings in ABB by 92.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 117,841 shares of the industrial products company’s stock valued at $2,917,000 after purchasing an additional 56,751 shares during the last quarter. Guardian Capital Advisors LP increased its holdings in ABB by 1.3% in the 3rd quarter. Guardian Capital Advisors LP now owns 310,864 shares of the industrial products company’s stock valued at $7,915,000 after purchasing an additional 4,118 shares during the last quarter. Macquarie Group Ltd. increased its holdings in ABB by 1.1% in the 3rd quarter. Macquarie Group Ltd. now owns 3,877,508 shares of the industrial products company’s stock valued at $95,968,000 after purchasing an additional 40,514 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in ABB by 10.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 115,036 shares of the industrial products company’s stock valued at $2,847,000 after purchasing an additional 10,694 shares during the last quarter. 4.92% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on ABB shares. Goldman Sachs Group reiterated a “buy” rating on shares of ABB in a report on Monday, November 6th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a report on Friday, November 24th. Jefferies Group set a $20.00 target price on shares of ABB and gave the company a “sell” rating in a report on Tuesday, November 28th. Deutsche Bank upgraded shares of ABB from a “hold” rating to a “buy” rating in a report on Monday, December 4th. Finally, Zacks Investment Research upgraded shares of ABB from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, December 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. ABB has an average rating of “Hold” and a consensus target price of $26.00.
ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, February 8th. The industrial products company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.49 billion. ABB had a net margin of 6.45% and a return on equity of 18.11%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. equities analysts expect that ABB Ltd will post 1.41 earnings per share for the current fiscal year.
The firm also recently declared an annual dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Thursday, April 5th will be paid a $0.8261 dividend. This is an increase from ABB’s previous annual dividend of $0.75. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a dividend yield of 3.44%. ABB’s payout ratio is 70.87%.
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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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