Ledyard National Bank Has $11.69 Million Stock Holdings in ABB Ltd (NYSE:ABB)

Ledyard National Bank lowered its position in ABB Ltd (NYSE:ABB) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 583,489 shares of the industrial products company’s stock after selling 11,676 shares during the period. ABB accounts for 1.6% of Ledyard National Bank’s portfolio, making the stock its 9th largest holding. Ledyard National Bank’s holdings in ABB were worth $11,687,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ABB. Portland Global Advisors LLC increased its holdings in shares of ABB by 8.0% in the second quarter. Portland Global Advisors LLC now owns 128,896 shares of the industrial products company’s stock valued at $2,582,000 after purchasing an additional 9,510 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of ABB by 8.1% in the second quarter. Trust Co. of Vermont now owns 48,807 shares of the industrial products company’s stock valued at $978,000 after purchasing an additional 3,647 shares in the last quarter. Conning Inc. increased its holdings in shares of ABB by 4.8% in the second quarter. Conning Inc. now owns 29,250 shares of the industrial products company’s stock valued at $586,000 after purchasing an additional 1,336 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of ABB in the second quarter valued at approximately $85,000. Finally, Marathon Capital Management increased its holdings in shares of ABB by 5.8% in the second quarter. Marathon Capital Management now owns 118,682 shares of the industrial products company’s stock valued at $2,377,000 after purchasing an additional 6,550 shares in the last quarter. Institutional investors own 4.65% of the company’s stock.

A number of analysts have commented on ABB shares. JPMorgan Chase & Co. reaffirmed a “sell” rating and set a $18.00 target price on shares of ABB in a report on Monday, July 15th. UBS Group reaffirmed a “hold” rating and set a $20.50 target price on shares of ABB in a report on Thursday, July 25th. Societe Generale lowered shares of ABB from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. ValuEngine lowered shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Finally, Vertical Research raised shares of ABB from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $20.37.

ABB opened at $17.94 on Wednesday. The stock’s fifty day simple moving average is $19.18. The company has a quick ratio of 1.09, a current ratio of 1.32 and a debt-to-equity ratio of 0.65. ABB Ltd has a 52 week low of $17.83 and a 52 week high of $24.45. The firm has a market cap of $39.84 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 3.16 and a beta of 1.15.

ABB (NYSE:ABB) last released its earnings results on Thursday, July 25th. The industrial products company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. ABB had a net margin of 4.95% and a return on equity of 18.97%. The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the previous year, the business earned $0.38 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that ABB Ltd will post 0.86 earnings per share for the current fiscal year.

About ABB

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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