ABB (NYSE:ABBNY) Sets New 52-Week High at $48.43

ABB Ltd (NYSE:ABBNY - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $48.43 and last traded at $48.42, with a volume of 12189 shares changing hands. The stock had previously closed at $45.80.

Wall Street Analyst Weigh In

Separately, TD Cowen downgraded shares of ABB from an "outperform" rating to a "market perform" rating in a research note on Tuesday, January 9th.

ABB Stock Performance

The firm's fifty day moving average price is $46.05 and its 200 day moving average price is $41.74. The company has a current ratio of 1.18, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $91.03 billion, a PE ratio of 24.27, a PEG ratio of 3.60 and a beta of 1.20.

ABB (NYSE:ABBNY - Get Free Report) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.15 billion. ABB had a net margin of 11.62% and a return on equity of 27.93%. On average, research analysts anticipate that ABB Ltd will post 2.04 earnings per share for the current year.

Institutional Investors Weigh In On ABB

Several hedge funds and other institutional investors have recently made changes to their positions in ABBNY. BlackRock Inc. grew its position in shares of ABB by 8.1% in the first quarter. BlackRock Inc. now owns 997,550 shares of the industrial products company's stock valued at $32,261,000 after purchasing an additional 74,433 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of ABB by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 55,264 shares of the industrial products company's stock valued at $1,787,000 after buying an additional 581 shares during the period. Sei Investments Co. lifted its stake in shares of ABB by 20.6% in the first quarter. Sei Investments Co. now owns 20,326 shares of the industrial products company's stock valued at $653,000 after buying an additional 3,473 shares during the period. Cetera Investment Advisers lifted its stake in shares of ABB by 5.5% in the first quarter. Cetera Investment Advisers now owns 7,404 shares of the industrial products company's stock valued at $239,000 after buying an additional 384 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of ABB by 50.7% in the first quarter. Sequoia Financial Advisors LLC now owns 8,579 shares of the industrial products company's stock valued at $278,000 after buying an additional 2,887 shares during the period. 1.09% of the stock is owned by institutional investors and hedge funds.

ABB Company Profile

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.