Raymond James Financial Services Advisors Inc. Has $1.67 Million Holdings in ABB Ltd (ABB)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of ABB Ltd (NYSE:ABB) by 18.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 87,571 shares of the industrial products company’s stock after selling 19,569 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in ABB were worth $1,665,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bremer Trust National Association purchased a new stake in shares of ABB during the fourth quarter valued at about $26,000. We Are One Seven LLC acquired a new position in shares of ABB during the fourth quarter valued at about $37,000. Lindbrook Capital LLC acquired a new position in shares of ABB during the fourth quarter valued at about $48,000. Belpointe Asset Management LLC acquired a new position in shares of ABB during the third quarter valued at about $132,000. Finally, Covington Capital Management increased its holdings in shares of ABB by 231.9% during the third quarter. Covington Capital Management now owns 5,725 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 4,000 shares in the last quarter. 4.35% of the stock is owned by institutional investors and hedge funds.

ABB opened at $19.27 on Friday. ABB Ltd has a 52-week low of $18.05 and a 52-week high of $24.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 1.19. The stock has a market cap of $41.02 billion, a PE ratio of 15.42, a P/E/G ratio of 2.51 and a beta of 1.07.

ABB (NYSE:ABB) last issued its quarterly earnings results on Thursday, February 28th. The industrial products company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.10). ABB had a return on equity of 12.78% and a net margin of 7.86%. The business had revenue of $7.40 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same quarter last year, the company posted $0.33 EPS. ABB’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, analysts anticipate that ABB Ltd will post 1.4 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on ABB shares. Bank of America upgraded shares of ABB from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Kepler Capital Markets restated a “buy” rating on shares of ABB in a report on Wednesday, December 12th. HSBC upgraded shares of ABB from a “hold” rating to a “buy” rating in a report on Monday, December 10th. Morgan Stanley restated a “hold” rating on shares of ABB in a report on Wednesday, December 5th. Finally, Jefferies Financial Group restated a “hold” rating on shares of ABB in a report on Monday, December 17th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $21.84.

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About ABB

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, 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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