First Hawaiian Bank Raises Holdings in ABB Ltd (ABB)

First Hawaiian Bank grew its position in ABB Ltd (NYSE:ABB) by 22.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,632 shares of the industrial products company’s stock after acquiring an additional 1,784 shares during the period. First Hawaiian Bank’s holdings in ABB were worth $181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bremer Trust National Association bought a new stake in shares of ABB during the 4th quarter valued at approximately $26,000. Sontag Advisory LLC bought a new stake in shares of ABB during the 4th quarter valued at approximately $35,000. We Are One Seven LLC bought a new stake in shares of ABB during the 4th quarter valued at approximately $37,000. Lindbrook Capital LLC bought a new stake in shares of ABB during the 4th quarter valued at approximately $48,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of ABB during the 3rd quarter valued at approximately $132,000. 4.50% of the stock is owned by institutional investors.

Shares of ABB stock traded up $0.14 during trading on Friday, reaching $20.42. 1,373,469 shares of the company traded hands, compared to its average volume of 2,582,462. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.52. ABB Ltd has a 1-year low of $18.05 and a 1-year high of $24.72. The company has a market capitalization of $43.67 billion, a PE ratio of 15.35, a PEG ratio of 3.00 and a beta of 1.09.

ABB (NYSE:ABB) last released its earnings results on Wednesday, April 17th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. ABB had a net margin of 6.59% and a return on equity of 19.31%. The company had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the company earned $0.31 EPS. ABB’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts expect that ABB Ltd will post 1.01 EPS for the current fiscal year.

A number of equities research analysts have weighed in on ABB shares. Bank of America raised shares of ABB from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Zacks Investment Research raised shares of ABB from a “strong sell” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday. DNB Markets downgraded shares of ABB from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Jefferies Financial Group restated a “hold” rating on shares of ABB in a research report on Thursday, February 28th. Finally, Royal Bank of Canada restated a “hold” rating on shares of ABB in a research report on Thursday, February 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $20.87.

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ABB Company 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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