Shares of ABB Ltd. (NYSE:ABB) gapped up before the market opened on Friday . The stock had previously closed at $21.03, but opened at $21.07. ABB shares last traded at $21.22, with a volume of 1,267,492 shares trading hands.

A number of analysts recently issued reports on the company. Citigroup Inc. reissued a “sell” rating on shares of ABB in a research report on Thursday, April 21st. Robert W. Baird lifted their price objective on ABB from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. Societe Generale raised ABB from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Deutsche Bank AG raised ABB from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.25.

The stock’s 50-day moving average is $20.21 and its 200 day moving average is $19.33. The stock has a market cap of $45.20 billion and a PE ratio of 27.56.

ABB (NYSE:ABB) last released its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.09. The firm had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.83 billion. ABB’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. Equities research analysts anticipate that ABB Ltd. will post $1.08 EPS for the current fiscal year.

Other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in 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. boosted 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 during the period. Finally, Atlantic Trust Group LLC boosted 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 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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