ABB (NYSE:ABBNY) Hits New 52-Week High at $48.43

ABB Ltd (NYSE:ABBNY)’s share price reached a new 52-week high during mid-day 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.

Analysts Set New Price Targets

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

ABB Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.84 and a current ratio of 1.18. The firm’s fifty day simple moving average is $46.26 and its 200-day simple moving average is $41.88. The stock has a market cap of $92.46 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 3.62 and a beta of 1.20.

ABB (NYSE:ABBNY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $8.15 billion. Equities research analysts expect that ABB Ltd will post 2.04 EPS for the current fiscal year.

Institutional Trading of ABB

Several large investors have recently modified their holdings of the stock. Harbour Investments Inc. grew its position in shares of ABB by 23.8% during the 1st quarter. Harbour Investments Inc. now owns 1,872 shares of the industrial products company’s stock worth $64,000 after buying an additional 360 shares during the period. Cetera Investment Advisers grew its position in ABB by 5.5% in the 1st quarter. Cetera Investment Advisers now owns 7,404 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 384 shares during the period. Gabelli Funds LLC grew its position in ABB by 0.4% in the 1st quarter. Gabelli Funds LLC now owns 94,150 shares of the industrial products company’s stock valued at $3,229,000 after purchasing an additional 400 shares during the period. 1832 Asset Management L.P. grew its position in ABB by 23.5% in the 1st quarter. 1832 Asset Management L.P. now owns 2,135 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 406 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in ABB by 10.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 435 shares during the period. Institutional investors and hedge funds own 1.09% of the company’s stock.

ABB Company Profile

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.