Tocqueville Asset Management L.P. decreased its holdings in ABB Ltd (NYSE:ABB) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,515 shares of the industrial products company’s stock after selling 12,694 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in ABB were worth $1,408,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Bank of Nova Scotia Trust Co. purchased a new stake in shares of ABB during the 3rd quarter valued at about $113,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of ABB during the 4th quarter valued at about $118,000. Icon Wealth Partners LLC purchased a new stake in shares of ABB during the 4th quarter valued at about $118,000. Quantbot Technologies LP purchased a new stake in shares of ABB during the 3rd quarter valued at about $184,000. Finally, Round Table Services LLC purchased a new stake in shares of ABB during the 4th quarter valued at about $203,000. 5.44% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on ABB shares. Robert W. Baird reaffirmed a “buy” rating and set a $29.00 price target on shares of ABB in a research report on Friday, December 15th. Zacks Investment Research raised shares of ABB from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Wednesday, December 13th. Goldman Sachs Group reaffirmed a “buy” rating on shares of ABB in a research report on Monday, December 11th. Deutsche Bank raised shares of ABB from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Finally, Berenberg Bank raised shares of ABB from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $26.00.
ABB (NYSE:ABB) last released its earnings results on Thursday, February 8th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.49 billion. ABB had a net margin of 6.45% and a return on equity of 18.11%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. analysts predict that ABB Ltd will post 1.41 earnings per share for the current fiscal year.
The company also recently announced an annual dividend, which will be paid on Tuesday, May 15th. Investors of record on Thursday, April 5th will be issued a $0.8261 dividend. This represents a yield of 3.44%. This is a positive change from ABB’s previous annual dividend of $0.75. The ex-dividend date of this dividend is Wednesday, April 4th. ABB’s dividend payout ratio is currently 70.87%.
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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.
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