Perigon Wealth Management LLC Buys New Stake in ABB Ltd (NYSE:ABB)

Perigon Wealth Management LLC bought a new stake in ABB Ltd (NYSE:ABBGet Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,714 shares of the industrial products company’s stock, valued at approximately $233,000.

Other large investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in shares of ABB by 4.7% during the 1st quarter. Fisher Asset Management LLC now owns 19,079,817 shares of the industrial products company’s stock valued at $617,041,000 after purchasing an additional 861,832 shares during the period. Folketrygdfondet increased its position in shares of ABB by 3,098.9% during the 2nd quarter. Folketrygdfondet now owns 644,925 shares of the industrial products company’s stock valued at $17,239,000 after purchasing an additional 624,764 shares during the period. Capital International Investors increased its position in shares of ABB by 2.0% during the 1st quarter. Capital International Investors now owns 20,576,757 shares of the industrial products company’s stock valued at $667,249,000 after purchasing an additional 403,624 shares during the period. Advocate Group LLC acquired a new position in shares of ABB during the 2nd quarter valued at $5,782,000. Finally, Goldman Sachs Group Inc. increased its position in shares of ABB by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,946,711 shares of the industrial products company’s stock valued at $62,956,000 after purchasing an additional 203,012 shares during the period. 5.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ABB shares. Barclays reduced their price objective on ABB from CHF 29 to CHF 26 in a research note on Tuesday, October 4th. Kepler Capital Markets lowered ABB from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. The Goldman Sachs Group lowered ABB from a “conviction-buy” rating to a “buy” rating in a research note on Monday, October 31st. Deutsche Bank Aktiengesellschaft reduced their price objective on ABB from CHF 28 to CHF 26.50 in a research note on Wednesday, October 5th. Finally, StockNews.com cut ABB from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.54.

ABB Price Performance

ABB opened at $31.44 on Thursday. The stock has a market cap of $61.77 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.98 and a beta of 1.08. ABB Ltd has a 1 year low of $24.27 and a 1 year high of $39.11. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $27.51 and a 200 day moving average price of $28.22.

About ABB

(Get Rating)

ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, 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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