ABB Ltd. (ABB) Shares Down 2.5%
ABB Ltd. (NYSE:ABB) shares fell 2.5% during trading on Friday . The stock traded as low as $18.72 and last traded at $18.89, with a volume of 968,811 shares traded. The stock had previously closed at $19.37.
Several brokerages recently commented on ABB. JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a report on Monday, June 13th. TheStreet upgraded shares of ABB from a “hold” rating to a “buy” rating in a report on Friday, April 22nd. Citigroup Inc. restated a “sell” rating on shares of ABB in a report on Thursday, April 21st. Robert W. Baird increased their target price on shares of ABB from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Finally, Societe Generale upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. ABB has a consensus rating of “Hold” and an average price target of $22.25.
The firm’s 50-day moving average is $20.43 and its 200 day moving average is $19.04. The company has a market cap of $40.90 billion and a P/E ratio of 22.34.
ABB (NYSE:ABB) last posted its quarterly earnings data on Wednesday, April 20th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.06. The firm had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. ABB’s revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts predict that ABB Ltd. will post $1.03 EPS for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Wednesday, July 20th. Shareholders of record on Tuesday, July 12th will be issued a dividend of $0.762 per share. This is a positive change from ABB’s previous annual dividend of $0.18. This represents a yield of 3.64%. The ex-dividend date is Friday, July 8th.
Other institutional investors have recently bought and sold shares of the company. Atlantic Trust Group LLC increased its position in ABB by 12.7% in the fourth quarter. Atlantic Trust Group LLC now owns 79,795 shares of the company’s stock worth $1,414,000 after buying an additional 9,015 shares in the last quarter. Keystone Financial Planning Inc. increased its position in ABB by 462.8% in the fourth quarter. Keystone Financial Planning Inc. now owns 171,233 shares of the company’s stock worth $3,036,000 after buying an additional 140,809 shares in the last quarter. PNC Financial Services Group Inc. increased its position in ABB by 68.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 485,129 shares of the company’s stock worth $8,602,000 after buying an additional 197,613 shares in the last quarter. Manitou Investment Management Ltd. increased its position in ABB by 2.8% in the fourth quarter. Manitou Investment Management Ltd. now owns 701,570 shares of the company’s stock worth $12,439,000 after buying an additional 19,330 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of ABB by 9.1% in the fourth quarter. Morgan Stanley now owns 1,127,168 shares of the company’s stock worth $19,984,000 after buying an additional 94,045 shares during the period.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business -based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.