ABB (NYSE:ABB) Hits New 12-Month High at $22.31

ABB Ltd (NYSE:ABB) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $22.31 and last traded at $22.23, with a volume of 385690 shares trading hands. The stock had previously closed at $21.85.

Several equities research analysts have commented on ABB shares. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of ABB in a report on Tuesday, October 8th. ValuEngine raised shares of ABB from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating and set a $21.00 price objective on the stock in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. ABB presently has a consensus rating of “Hold” and a consensus price target of $20.09.

The stock has a market capitalization of $46.69 billion, a P/E ratio of 16.67, a PEG ratio of 3.46 and a beta of 1.18. The stock has a 50 day moving average price of $21.16 and a 200-day moving average price of $19.56. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.36 and a quick ratio of 1.12.

ABB (NYSE:ABB) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. The firm had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.95 billion. ABB had a return on equity of 19.16% and a net margin of 5.06%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Research analysts predict that ABB Ltd will post 0.92 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in ABB. Fisher Asset Management LLC boosted its position in shares of ABB by 4.9% during the third quarter. Fisher Asset Management LLC now owns 12,752,587 shares of the industrial products company’s stock valued at $250,843,000 after purchasing an additional 598,340 shares in the last quarter. Northern Trust Corp boosted its position in shares of ABB by 0.5% during the second quarter. Northern Trust Corp now owns 6,076,996 shares of the industrial products company’s stock valued at $121,723,000 after buying an additional 31,731 shares during the last quarter. Morgan Stanley increased its holdings in ABB by 23.2% in the 2nd quarter. Morgan Stanley now owns 4,332,576 shares of the industrial products company’s stock worth $86,781,000 after buying an additional 816,202 shares in the last quarter. Schafer Cullen Capital Management Inc increased its holdings in ABB by 7.1% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 2,692,911 shares of the industrial products company’s stock worth $50,923,000 after buying an additional 177,390 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in ABB by 13.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,309,454 shares of the industrial products company’s stock worth $45,427,000 after buying an additional 272,060 shares in the last quarter. Institutional investors own 4.60% of the company’s stock.

ABB Company Profile (NYSE: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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