Coastline Trust Co decreased its holdings in ABB Ltd (NYSE:ABB – Get Rating) by 4.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,750 shares of the industrial products company’s stock after selling 3,160 shares during the quarter. Coastline Trust Co’s holdings in ABB were worth $2,319,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Benjamin Edwards Inc. bought a new position in shares of ABB during the 4th quarter worth approximately $34,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of ABB during the 4th quarter worth approximately $38,000. Sandy Cove Advisors LLC bought a new position in shares of ABB during the 4th quarter worth approximately $38,000. D Orazio & Associates Inc. bought a new position in shares of ABB during the 3rd quarter worth approximately $34,000. Finally, Fieldpoint Private Securities LLC lifted its position in shares of ABB by 34.3% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,658 shares of the industrial products company’s stock worth $55,000 after buying an additional 423 shares in the last quarter. 14.37% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. Royal Bank of Canada raised shares of ABB from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 19th. JPMorgan Chase & Co. raised their price target on shares of ABB from CHF 32 to CHF 33 in a research note on Friday, April 22nd. Zacks Investment Research raised shares of ABB from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a report on Tuesday, February 8th. Barclays reduced their price objective on ABB from CHF 36 to CHF 34 in a report on Tuesday, April 5th. Finally, UBS Group boosted their target price on ABB from CHF 35 to CHF 37 and gave the company a “buy” rating in a research note on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $34.13.
ABB (NYSE:ABB – Get Rating) last issued its earnings results on Thursday, April 21st. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.03). ABB had a return on equity of 19.34% and a net margin of 16.05%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, research analysts forecast that ABB Ltd will post 1.4 earnings per share for the current year.
ABB Profile (Get Rating)
ABB Ltd engages in manufacture and sale of 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, switchboard and panelboards, switchgear, 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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