Economy

ABB Ltd (ABB) Hits 52-Week High

The firm has "Equal-Weight" rating given on Wednesday, September 28 by Morgan Stanley.

ABBN has been the topic of a number of other research reports.

ABB (ABBN) opened at 26.08 on Monday. Deutsche Bank AG upgraded shares of ABB from a "sell" rating to a "hold" rating in a research report on Friday, July 22nd. The company now has an average rating of Hold and an average target price of CHF 23.96.

Shares of ABB (ABB) traded up 0.65% on Monday, reaching $26.30. Hamlin Capital Management Llc sold 894,204 shares as the company's stock rose 9.90% with the market.

The company's P/E ratio is 25.17 and market cap is 55.76B. It is now trading at $26.13 just above $24.95, the 50 day moving average and which is just a bit higher than the 200 day moving average of $24.45.

ABB (NYSE:ABB) last announced its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. Covering sell-side analysts are estimating company growth for next year to be 12.52%. Next quarter's EPS is forecasted to be $0.16 with next year's EPS anticipated to be $1.38. ABB's revenue was down 5.3% on a year-over-year basis. On average, equities analysts expect that ABB will post $1.08 EPS for the current fiscal year. The firm has "Buy" rating given on Tuesday, October 31 by Goldman Sachs. "(The)" was first posted by TrueBlueTribune and is owned by of TrueBlueTribune. The legal version of this news story can be viewed at https://baseballnewssource.com/markets/abb-ltd-abbn-given-a-chf-25-50-price-target-at-societe-generale/1739261.html.

Other hedge funds also recently bought and sold shares of the company. As of the end of the quarter Van Cleef Asset Management, inc had acquired 575 shares growing its holdings by 1.6%. Raymond James Financial Services Advisors, Inc. added to its holdings by buying 10,488 shares an increase of 9.9% from 06/30/2017 to 09/30/2017. The value of the total investment in ABB Ltd went from $2,646,000 to $2,890,000 increasing 9.2% since the last quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company's stock valued at $108,000 after purchasing an additional 150 shares in the last quarter. Sei Investments Co. now owns 6,597 shares of the company's stock worth $131,000 after buying an additional 3,618 shares in the last quarter. As of quarter end Aperio Group, LLC had acquired 23,062 shares growing its stake by 2.8%. The institutional investor owned 8,658,635 shares of the industrial products company's stock after purchasing an additional 376,777 shares during the quarter.

ABB Ltd (ABB) is a holding company. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Company operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. The Company is involved in serving customers in utilities, industry and transport and infrastructure globally.



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