MGO One Seven LLC boosted its position in ABB Ltd (NYSE:ABBNY – Free Report) by 10.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,765 shares of the industrial products company’s stock after purchasing an additional 841 shares during the quarter. MGO One Seven LLC’s holdings in ABB were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of ABBNY. Millennium Management LLC lifted its stake in ABB by 260.8% in the 4th quarter. Millennium Management LLC now owns 596,554 shares of the industrial products company’s stock worth $18,171,000 after purchasing an additional 431,194 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of ABB by 170.8% during the 4th quarter. Renaissance Technologies LLC now owns 585,400 shares of the industrial products company’s stock worth $17,831,000 after acquiring an additional 369,200 shares during the last quarter. Morgan Stanley lifted its holdings in shares of ABB by 5.9% during the 4th quarter. Morgan Stanley now owns 5,316,270 shares of the industrial products company’s stock worth $161,934,000 after acquiring an additional 295,580 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of ABB by 1,100.9% during the 4th quarter. Cerity Partners LLC now owns 235,442 shares of the industrial products company’s stock worth $7,172,000 after acquiring an additional 215,837 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in ABB by 11.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,946,711 shares of the industrial products company’s stock worth $62,956,000 after purchasing an additional 203,012 shares during the period. 5.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on shares of ABB in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.25.
ABB Trading Down 1.5 %
NYSE:ABBNY opened at $38.03 on Wednesday. The company’s 50-day simple moving average is $38.95 and its 200 day simple moving average is $36.06. The firm has a market capitalization of $71.57 billion, a P/E ratio of 20.90, a PEG ratio of 3.15 and a beta of 1.10. ABB Ltd has a one year low of $24.27 and a one year high of $41.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.14 and a quick ratio of 0.78.
ABB (NYSE:ABBNY – Get Free Report) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $7.47 billion. ABB had a return on equity of 26.90% and a net margin of 10.99%. As a group, analysts forecast that ABB Ltd will post 1.97 EPS for the current fiscal year.
About ABB
ABB Ltd manufactures and sells electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboards 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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