ABB Ltd. (ABB) Sees Unusually-High Trading Volume
Shares of ABB Ltd. (NYSE:ABB) saw an uptick in trading volume on Thursday . 2,123,357 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 2,063,114 shares.The stock last traded at $19.96 and had previously closed at $19.63.
A number of brokerages have recently weighed in on ABB. Zacks Investment Research lowered shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday. 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. Finally, Robert W. Baird boosted their price objective on shares of ABB from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Eight equities 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’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.25.
The stock’s 50-day moving average price is $20.33 and its 200 day moving average price is $19.08. The company has a market cap of $43.17 billion and a price-to-earnings ratio of 23.58.
ABB (NYSE:ABB) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period last year, the business earned $0.31 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, analysts predict that ABB Ltd. will post $1.03 earnings per share for the current year.
The business 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 represents a yield of 3.64%. This is a boost from ABB’s previous annual dividend of $0.18. The ex-dividend date is Friday, July 8th.
A number of large investors recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of 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 during the period. Keystone Financial Planning Inc. raised its stake in shares of 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 during the period. Morgan Stanley raised its stake 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. Manitou Investment Management Ltd. raised its stake in shares of 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 during the period. Finally, Atlantic Trust Group LLC raised its stake in shares of 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 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.
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