ABB Ltd. (ABB) Shares Gap Up to $18.90
ABB Ltd. (NYSE:ABB) shares gapped up prior to trading on Monday . The stock had previously closed at $18.50, but opened at $18.90. ABB shares last traded at $19.43, with a volume of 1,273,761 shares changing hands.
A number of research analysts have commented on the company. Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a report on Thursday, April 21st. Robert W. Baird increased their target price on ABB from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Societe Generale raised ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a report on Monday, June 13th. Finally, TheStreet raised ABB from a “hold” rating to a “buy” rating in a report on Friday, April 22nd. Eight investment 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 company currently has a consensus rating of “Hold” and a consensus target price of $22.25.
The company’s 50-day moving average is $20.41 and its 200-day moving average is $19.06. The stock has a market capitalization of $41.90 billion and a PE ratio of 22.88.
ABB (NYSE:ABB) last issued its earnings results on Wednesday, April 20th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.06. The firm earned $7.90 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. Analysts anticipate that ABB Ltd. will post $1.03 EPS for the current fiscal year.
The company also recently announced an annual dividend, which will be paid on Wednesday, July 20th. Shareholders of record on Tuesday, July 12th will be paid a $0.762 dividend. This is a positive change from ABB’s previous annual dividend of $0.18. The ex-dividend date is Friday, July 8th. This represents a dividend yield of 3.64%.
Other hedge funds have recently modified their holdings of the company. 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 valued at $1,414,000 after buying an additional 9,015 shares during the last quarter. Keystone Financial Planning Inc. boosted its position 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 valued at $3,036,000 after buying an additional 140,809 shares during the period. PNC Financial Services Group Inc. boosted its position 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 valued at $8,602,000 after buying an additional 197,613 shares during the period. Manitou Investment Management Ltd. boosted its position 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 valued at $12,439,000 after buying an additional 19,330 shares during the period. Finally, Morgan Stanley boosted 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 valued at $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.