Stewart & Patten Co. LLC Has $7.704 Million Stake in ABB Ltd (ABB)

Stewart & Patten Co. LLC increased its stake in ABB Ltd (NYSE:ABB) by 0.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329,229 shares of the industrial products company’s stock after buying an additional 38 shares during the period. ABB accounts for approximately 1.4% of Stewart & Patten Co. LLC’s holdings, making the stock its 27th largest position. Stewart & Patten Co. LLC’s holdings in ABB were worth $7,704,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABB. Commerzbank Aktiengesellschaft FI raised its position in shares of ABB by 0.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 16,229 shares of the industrial products company’s stock worth $342,000 after buying an additional 48 shares during the period. Horrell Capital Management Inc. raised its position in shares of ABB by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the industrial products company’s stock worth $638,000 after buying an additional 100 shares during the period. Portland Global Advisors LLC raised its position in shares of ABB by 0.3% in the first quarter. Portland Global Advisors LLC now owns 79,915 shares of the industrial products company’s stock worth $1,870,000 after buying an additional 235 shares during the period. Peachtree Investment Advisors Inc. raised its position in shares of ABB by 1.0% in the first quarter. Peachtree Investment Advisors Inc. now owns 39,325 shares of the industrial products company’s stock worth $920,000 after buying an additional 375 shares during the period. Finally, Diversified Investment Strategies LLC raised its position in shares of ABB by 0.3% in the third quarter. Diversified Investment Strategies LLC now owns 147,425 shares of the industrial products company’s stock worth $3,319,000 after buying an additional 400 shares during the period. 3.08% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for ABB (NYSE:ABB)

ABB Ltd (NYSE:ABB) traded up 1.74% on Friday, reaching $23.33. The company had a trading volume of 3,660,856 shares. The company’s 50 day moving average price is $22.97 and its 200-day moving average price is $22.16. ABB Ltd has a 12 month low of $18.72 and a 12 month high of $23.90. The company has a market capitalization of $49.90 billion, a price-to-earnings ratio of 26.60 and a beta of 1.23.

ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, April 20th. The industrial products company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company earned $7.85 billion during the quarter, compared to analysts’ expectations of $7.77 billion. ABB had a return on equity of 18.00% and a net margin of 5.80%. ABB’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, equities analysts predict that ABB Ltd will post $1.18 earnings per share for the current fiscal year.

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Thursday, April 20th will be given a dividend of $0.7546 per share. The ex-dividend date of this dividend is Tuesday, April 18th. This represents a dividend yield of 3.28%. ABB’s dividend payout ratio is currently 79.35%.

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ABB has been the topic of a number of research analyst reports. Zacks Investment Research raised ABB from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, December 28th. Royal Bank of Canada raised ABB from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 25th. Morgan Stanley reissued a “buy” rating on shares of ABB in a report on Tuesday. Jefferies Group LLC reissued a “sell” rating and set a $18.00 price target on shares of ABB in a report on Tuesday, April 4th. Finally, Nordea Equity Research raised ABB from a “hold” rating to a “buy” rating in a report on Thursday, January 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $22.50.

ABB Company Profile

ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.

5 Day Chart for NYSE:ABB

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