Dimensional Fund Advisors LP trimmed its stake in shares of ABB Ltd (NYSE:ABB) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 762,768 shares of the industrial products company’s stock after selling 671 shares during the quarter. Dimensional Fund Advisors LP’s holdings in ABB were worth $14,500,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of ABB by 9.1% in the 4th quarter. Creative Planning now owns 25,910 shares of the industrial products company’s stock worth $493,000 after buying an additional 2,172 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of ABB by 47.0% during the fourth quarter. Ballentine Partners LLC now owns 12,781 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 4,085 shares in the last quarter. Regal Investment Advisors LLC bought a new stake in shares of ABB during the fourth quarter valued at approximately $195,000. CIBC Private Wealth Group LLC boosted its position in shares of ABB by 1.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 78,268 shares of the industrial products company’s stock valued at $1,488,000 after purchasing an additional 916 shares in the last quarter. Finally, Keystone Financial Planning Inc. boosted its holdings in ABB by 2.0% in the fourth quarter. Keystone Financial Planning Inc. now owns 111,956 shares of the industrial products company’s stock worth $2,128,000 after acquiring an additional 2,231 shares in the last quarter. 4.92% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on ABB shares. ValuEngine cut ABB from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. DNB Markets cut ABB from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Royal Bank of Canada reiterated a “hold” rating and set a $21.00 price objective on shares of ABB in a research report on Friday, May 3rd. Zacks Investment Research upgraded ABB from a “strong sell” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, May 1st. Finally, Berenberg Bank reiterated a “sell” rating on shares of ABB in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. ABB currently has an average rating of “Hold” and an average price target of $21.39.
ABB (NYSE:ABB) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. The firm had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.82 billion. ABB had a return on equity of 19.31% and a net margin of 6.59%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, equities research analysts anticipate that ABB Ltd will post 0.99 EPS for the current fiscal year.
ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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