Richard C. Young & CO. LTD. Acquires 6,692 Shares of ABB Ltd (ABB)

Richard C. Young & CO. LTD. raised its holdings in ABB Ltd (NYSE:ABB) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 452,809 shares of the industrial products company’s stock after acquiring an additional 6,692 shares during the period. ABB makes up approximately 1.6% of Richard C. Young & CO. LTD.’s investment portfolio, making the stock its 25th largest position. Richard C. Young & CO. LTD.’s holdings in ABB were worth $8,545,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABB. Deutsche Bank AG grew its stake in shares of ABB by 133.3% in the 4th quarter. Deutsche Bank AG now owns 329,738 shares of the industrial products company’s stock valued at $6,267,000 after buying an additional 188,378 shares during the period. Ledyard National Bank grew its stake in shares of ABB by 107.2% in the 1st quarter. Ledyard National Bank now owns 595,165 shares of the industrial products company’s stock valued at $11,231,000 after buying an additional 307,877 shares during the period. Capital Investment Advisory Services LLC grew its stake in shares of ABB by 12,755.6% in the 1st quarter. Capital Investment Advisory Services LLC now owns 5,785 shares of the industrial products company’s stock valued at $109,000 after buying an additional 5,740 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in shares of ABB by 146.1% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 642,130 shares of the industrial products company’s stock valued at $12,117,000 after buying an additional 381,170 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of ABB by 2,682.6% in 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 buying an additional 745,943 shares during the period. Institutional investors own 4.72% of the company’s stock.

Shares of NYSE:ABB traded up $0.09 during mid-day trading on Friday, reaching $18.78. 9,060 shares of the company were exchanged, compared to its average volume of 2,498,806. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.23. The stock has a market capitalization of $40.55 billion, a P/E ratio of 14.13, a PEG ratio of 2.76 and a beta of 1.09. ABB Ltd has a 1 year low of $18.05 and a 1 year high of $24.45.

ABB (NYSE:ABB) last posted its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.06. The firm had revenue of $6.85 billion during the quarter, compared to analysts’ expectations of $6.82 billion. ABB had a net margin of 6.59% and a return on equity of 19.31%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. Research analysts forecast that ABB Ltd will post 1 earnings per share for the current fiscal year.

Several analysts have recently weighed in on ABB shares. Berenberg Bank cut shares of ABB from a “hold” rating to a “sell” rating in a research note on Monday, January 28th. JPMorgan Chase & Co. reissued a “sell” rating on shares of ABB in a research note on Thursday, February 28th. DNB Markets cut shares of ABB from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Royal Bank of Canada reissued a “hold” rating and issued a $21.00 price target on shares of ABB in a research note on Friday, May 3rd. Finally, Zacks Investment Research raised shares of ABB from a “strong sell” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $21.39.

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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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