CAPROCK Group Inc. Decreases Stock Holdings in ABB Ltd (NYSE:ABB)

CAPROCK Group Inc. reduced its holdings in shares of ABB Ltd (NYSE:ABB) by 26.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,211 shares of the industrial products company’s stock after selling 2,622 shares during the period. CAPROCK Group Inc.’s holdings in ABB were worth $245,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. WealthShield Partners LLC boosted its stake in shares of ABB by 25.0% in the second quarter. WealthShield Partners LLC now owns 1,442 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 288 shares during the period. Checchi Capital Advisers LLC raised its holdings in ABB by 1.9% in the second quarter. Checchi Capital Advisers LLC now owns 17,438 shares of the industrial products company’s stock valued at $593,000 after acquiring an additional 325 shares in the last quarter. Captrust Financial Advisors raised its holdings in ABB by 3.2% in the first quarter. Captrust Financial Advisors now owns 10,792 shares of the industrial products company’s stock valued at $329,000 after acquiring an additional 331 shares in the last quarter. Toronto Dominion Bank raised its holdings in ABB by 6.2% in the first quarter. Toronto Dominion Bank now owns 5,790 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 340 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its holdings in ABB by 3.9% in the second quarter. Personal CFO Solutions LLC now owns 9,409 shares of the industrial products company’s stock valued at $320,000 after acquiring an additional 355 shares in the last quarter. Institutional investors and hedge funds own 4.65% of the company’s stock.

Several research firms recently issued reports on ABB. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of ABB in a report on Friday, October 1st. Kepler Capital Markets raised shares of ABB from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Friday, July 2nd. Exane BNP Paribas raised shares of ABB to a “neutral” rating and set a CHF 37 price target on the stock in a report on Tuesday, September 21st. UBS Group set a $36.78 price target on shares of ABB and gave the company a “buy” rating in a report on Friday, July 23rd. Finally, Zacks Investment Research cut shares of ABB from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a report on Wednesday, September 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ABB presently has an average rating of “Hold” and a consensus price target of $35.88.

ABB stock opened at $33.81 on Thursday. The company has a 50-day simple moving average of $35.98 and a 200-day simple moving average of $34.64. The firm has a market capitalization of $69.42 billion, a P/E ratio of 12.43, a P/E/G ratio of 4.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 1.12. ABB Ltd has a one year low of $24.07 and a one year high of $38.03.

ABB (NYSE:ABB) last released its quarterly earnings results on Wednesday, July 21st. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.25 billion. ABB had a net margin of 20.29% and a return on equity of 15.37%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, sell-side analysts forecast that ABB Ltd will post 1.36 earnings per share for the current year.

ABB Profile

ABB Ltd. is a technology company, which engages in the development and provision of electrification, motion and automation solutions. It operates through the following business segments: Electrification, Industrial Automation, Motion, Robotics & Discrete Automation and Corporate and Other. The Electrification segment manufactures and sells products and solutions which are designed to provide safer electrical flow from the substation to the socket.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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