North Star Investment Management Corp. Invests $1.15 Million in ABB Ltd (ABB) Stock

North Star Investment Management Corp. acquired a new stake in shares of ABB Ltd (NYSE:ABB) in the first quarter, HoldingsChannel reports. The fund acquired 60,700 shares of the industrial products company’s stock, valued at approximately $1,145,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of ABB by 9.7% during the 3rd quarter. BlackRock Inc. now owns 4,125,709 shares of the industrial products company’s stock valued at $97,491,000 after acquiring an additional 366,275 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of ABB by 2,682.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 773,750 shares of the industrial products company’s stock valued at $18,284,000 after acquiring an additional 745,943 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of ABB during the 3rd quarter valued at $299,000. LPL Financial LLC lifted its position in shares of ABB by 6.1% during the 3rd quarter. LPL Financial LLC now owns 68,853 shares of the industrial products company’s stock valued at $1,627,000 after acquiring an additional 3,969 shares during the last quarter. Finally, Motley Fool Wealth Management LLC lifted its position in shares of ABB by 3.1% during the 4th quarter. Motley Fool Wealth Management LLC now owns 194,681 shares of the industrial products company’s stock valued at $3,701,000 after acquiring an additional 5,913 shares during the last quarter. Institutional investors own 4.34% of the company’s stock.

NYSE ABB opened at $19.44 on Thursday. ABB Ltd has a 1-year low of $18.05 and a 1-year high of $24.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.19. The firm has a market capitalization of $41.66 billion, a PE ratio of 14.62, a P/E/G ratio of 2.82 and a beta of 1.06.

ABB (NYSE:ABB) last posted its earnings results on Thursday, February 28th. The industrial products company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.10). The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $9.43 billion. ABB had a return on equity of 19.81% and a net margin of 6.36%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. On average, sell-side analysts predict that ABB Ltd will post 1.01 EPS for the current year.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a “sell” rating on shares of ABB in a research report on Monday. Berenberg Bank reiterated a “sell” rating on shares of ABB in a research report on Tuesday, March 19th. Zacks Investment Research downgraded ABB from a “hold” rating to a “strong sell” rating in a research report on Monday, March 11th. DNB Markets lowered ABB from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of ABB in a research note on Thursday, February 28th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $21.84.

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ABB Profile

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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