Crossmark Global Holdings Inc. Purchases 26,070 Shares of ABB Ltd (ABB)
Crossmark Global Holdings Inc. increased its stake in ABB Ltd (NYSE:ABB) by 16.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 186,550 shares of the industrial products company’s stock after purchasing an additional 26,070 shares during the period. Crossmark Global Holdings Inc.’s holdings in ABB were worth $4,408,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of ABB. NEXT Financial Group Inc bought a new position in shares of ABB in the third quarter worth $100,000. Ballentine Partners LLC bought a new position in shares of ABB in the third quarter worth $206,000. Ingalls & Snyder LLC bought a new position in shares of ABB in the third quarter worth $209,000. Northwestern Mutual Wealth Management Co. increased its position in shares of ABB by 182.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,170 shares of the industrial products company’s stock worth $221,000 after purchasing an additional 6,566 shares during the period. Finally, IFP Advisors Inc increased its position in shares of ABB by 213.4% in the third quarter. IFP Advisors Inc now owns 9,679 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 6,591 shares during the period. Institutional investors own 5.55% of the company’s stock.
ABB stock opened at $19.69 on Wednesday. ABB Ltd has a 12-month low of $19.08 and a 12-month high of $28.67. The company has a current ratio of 1.18, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $42.52 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.10 and a beta of 1.26.
ABB has been the topic of a number of recent analyst reports. TheStreet cut ABB from a “b” rating to a “c+” rating in a research report on Thursday, November 8th. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. ValuEngine upgraded ABB from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. JPMorgan Chase & Co. restated a “hold” rating on shares of ABB in a research report on Thursday, October 18th. Finally, Berenberg Bank restated a “hold” rating on shares of ABB in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.67.
ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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