National Asset Management Inc. Grows Stake in ABB Ltd (NYSE:ABB)

National Asset Management Inc. lifted its stake in shares of ABB Ltd (NYSE:ABB) by 4.2% in the first quarter, HoldingsChannel.com reports. The fund owned 58,769 shares of the industrial products company’s stock after acquiring an additional 2,364 shares during the quarter. National Asset Management Inc.’s holdings in ABB were worth $1,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of ABB by 3.2% during the 4th quarter. Bank of America Corp DE now owns 5,668,122 shares of the industrial products company’s stock worth $136,545,000 after acquiring an additional 174,042 shares during the last quarter. Advisor Partners LLC bought a new stake in shares of ABB during the 4th quarter worth $313,000. NEXT Financial Group Inc lifted its holdings in shares of ABB by 488.3% during the 4th quarter. NEXT Financial Group Inc now owns 12,736 shares of the industrial products company’s stock worth $307,000 after acquiring an additional 10,571 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of ABB by 22.7% during the 4th quarter. SeaCrest Wealth Management LLC now owns 15,604 shares of the industrial products company’s stock worth $376,000 after acquiring an additional 2,888 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of ABB by 223.2% during the 4th quarter. FMR LLC now owns 168,272 shares of the industrial products company’s stock worth $4,054,000 after acquiring an additional 116,203 shares during the last quarter. 4.30% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on ABB. UBS Group reaffirmed a “buy” rating on shares of ABB in a report on Tuesday, March 10th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of ABB in a report on Wednesday. Kepler Capital Markets reissued a “buy” rating on shares of ABB in a research note on Thursday. Morgan Stanley reissued an “underweight” rating on shares of ABB in a research note on Wednesday, April 29th. Finally, Vertical Research downgraded shares of ABB from a “hold” rating to a “sell” rating and set a $14.00 price target for the company. in a research note on Tuesday, March 31st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.66.

ABB stock traded up $0.23 during midday trading on Friday, reaching $18.77. 2,412,707 shares of the company traded hands, compared to its average volume of 2,144,201. The firm has a market capitalization of $40.20 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 2.19 and a beta of 1.08. The business has a 50 day moving average of $17.80 and a two-hundred day moving average of $21.13. ABB Ltd has a 12 month low of $14.71 and a 12 month high of $25.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.18 and a quick ratio of 1.00.

ABB (NYSE:ABB) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.15. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $5.93 billion. ABB had a net margin of 4.68% and a return on equity of 19.64%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, equities analysts forecast that ABB Ltd will post 1.37 EPS for the current year.

ABB Profile

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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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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