ABB Ltd. (NYSE:ABB) shares reached a new 52-week high on Monday . The stock traded as high as $22.16 and last traded at $22.14, with a volume of 717,149 shares changing hands. The stock had previously closed at $22.07.

Several research analysts have weighed in on ABB shares. Citigroup Inc. reissued a “sell” rating on shares of ABB in a report on Thursday, April 21st. TheStreet raised shares of ABB from a “hold” rating to a “buy” rating in a report on Friday, April 22nd. Zacks Investment Research cut shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Deutsche Bank AG raised shares of ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, JPMorgan Chase & Co. raised shares of ABB from an “underweight” rating to a “neutral” rating in a report on Wednesday, April 20th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $22.25.

The stock has a 50 day moving average of $20.56 and a 200-day moving average of $19.78. The stock has a market cap of $46.90 billion and a price-to-earnings ratio of 28.60.

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

An institutional investor recently raised its position in ABB stock. Morgan Stanley increased its stake in ABB Ltd. (NYSE:ABB) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,127,168 shares of the company’s stock after buying an additional 94,045 shares during the period. Morgan Stanley owned about 0.05% of ABB worth $19,984,000 as of its most recent SEC filing.

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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