Trade Report: Today, Quantbot Technologies LP Invests $167,000 in ABB Ltd. (ABB)

Today, Quantbot Technologies LP Invests $167,000 in ABB Ltd. (ABB)

Quantbot Technologies LP bought a new stake in ABB Ltd. (NYSE:ABB) during the third quarter, Holdings Channel reports. The fund bought 7,420 shares of the company’s stock, valued at approximately $167,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Rehmann Capital Advisory Group boosted its position in shares of ABB by 0.8% in the second quarter. Rehmann Capital Advisory Group now owns 10,800 shares of the company’s stock valued at $214,000 after buying an additional 87 shares in the last quarter. Horrell Capital Management Inc. boosted its position in shares of ABB by 0.5% in the third quarter. Horrell Capital Management Inc. now owns 26,990 shares of the company’s stock valued at $608,000 after buying an additional 128 shares in the last quarter. Cambridge Advisors Inc. boosted its position in shares of ABB by 0.8% in the third quarter. Cambridge Advisors Inc. now owns 18,270 shares of the company’s stock valued at $411,000 after buying an additional 150 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of ABB by 1.5% in the second quarter. Suntrust Banks Inc. now owns 10,342 shares of the company’s stock valued at $203,000 after buying an additional 157 shares in the last quarter. Finally, FCA Corp TX boosted its position in shares of ABB by 0.3% in the second quarter. FCA Corp TX now owns 104,224 shares of the company’s stock valued at $2,067,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 3.18% of the company’s stock.

Shares of ABB Ltd. (NYSE:ABB) traded up 0.53% during mid-day trading on Friday, reaching $20.70. The company’s stock had a trading volume of 678,490 shares. ABB Ltd. has a 1-year low of $15.74 and a 1-year high of $22.92. The company has a market capitalization of $44.21 billion, a price-to-earnings ratio of 26.74 and a beta of 1.27. The firm’s 50 day moving average price is $21.44 and its 200-day moving average price is $21.25.

ABB (NYSE:ABB) last issued its earnings results on Thursday, October 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. ABB had a net margin of 4.92% and a return on equity of 17.98%. The company earned $8.26 billion during the quarter, compared to analysts’ expectations of $8.38 billion. During the same period last year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, analysts predict that ABB Ltd. will post $0.97 EPS for the current year.

Several analysts have recently commented on the stock. Bank of America Corp. set a $23.00 price target on shares of ABB and gave the company a “hold” rating in a research report on Tuesday, October 4th. Zacks Investment Research raised shares of ABB from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, September 20th. BNP Paribas raised shares of ABB from an “underperform” rating to an “outperform” rating in a research report on Thursday, September 1st. Robert W. Baird lifted their price target on shares of ABB from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, October 5th. Finally, Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a research report on Thursday, October 13th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $23.75.

ABB Company Profile

ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.

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