ABB (NYSE:ABBNY) Hits New 12-Month High at $48.43

ABB Ltd (NYSE:ABBNY) hit a new 52-week high during trading on Thursday . The stock traded as high as $48.43 and last traded at $48.42, with a volume of 12189 shares traded. The stock had previously closed at $45.80.

Analyst Ratings Changes

Separately, TD Cowen lowered shares of ABB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 9th.

ABB Stock Up 6.0 %

The firm’s 50 day moving average is $46.05 and its two-hundred day moving average is $41.74. The stock has a market cap of $91.33 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 3.60 and a beta of 1.20. The company has a current ratio of 1.18, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37.

ABB (NYSE:ABBNY) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. ABB had a net margin of 11.62% and a return on equity of 27.93%. The firm had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $8.15 billion. On average, sell-side analysts predict that ABB Ltd will post 2.04 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley grew its holdings in shares of ABB by 5.9% during the 4th quarter. Morgan Stanley now owns 5,316,270 shares of the industrial products company’s stock worth $161,934,000 after purchasing an additional 295,580 shares during the period. Royal Bank of Canada grew its holdings in shares of ABB by 2.2% during the 1st quarter. Royal Bank of Canada now owns 2,822,472 shares of the industrial products company’s stock worth $91,278,000 after purchasing an additional 61,975 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of ABB by 1.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,978,913 shares of the industrial products company’s stock worth $52,896,000 after purchasing an additional 32,202 shares during the period. First Trust Advisors LP grew its holdings in shares of ABB by 7.6% during the 1st quarter. First Trust Advisors LP now owns 1,745,567 shares of the industrial products company’s stock worth $56,452,000 after purchasing an additional 122,855 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of ABB by 7.6% during the 1st quarter. BlackRock Inc. now owns 1,374,555 shares of the industrial products company’s stock worth $47,147,000 after purchasing an additional 97,260 shares during the period. Institutional investors and hedge funds own 1.09% of the company’s stock.

About ABB

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.