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

ABB Ltd (NYSE:ABBNY) hit a new 52-week high on Thursday . The company traded as high as $48.43 and last traded at $48.42, with a volume of 12189 shares. The stock had previously closed at $45.80.

Analysts Set New Price Targets

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 stock has a market cap of $92.46 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 3.62 and a beta of 1.20. The stock’s fifty day moving average is $46.26 and its 200-day moving average is $41.88. The company has a quick ratio of 0.84, a current ratio of 1.18 and a debt-to-equity ratio of 0.37.

ABB (NYSE:ABBNY) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $8.15 billion. ABB had a net margin of 11.62% and a return on equity of 27.93%. On average, analysts forecast that ABB Ltd will post 2.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ABBNY. Harbour Investments Inc. lifted its position in shares of ABB by 23.8% in the first quarter. Harbour Investments Inc. now owns 1,872 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 360 shares in the last quarter. Cetera Investment Advisers raised its position in ABB by 5.5% during the first quarter. Cetera Investment Advisers now owns 7,404 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 384 shares in the last quarter. Gabelli Funds LLC raised its position in ABB by 0.4% during the first quarter. Gabelli Funds LLC now owns 94,150 shares of the industrial products company’s stock worth $3,229,000 after acquiring an additional 400 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of ABB by 23.5% in the first quarter. 1832 Asset Management L.P. now owns 2,135 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 406 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of ABB by 10.6% in the second quarter. BNP Paribas Arbitrage SA now owns 4,547 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 435 shares during the period. Institutional investors and hedge funds own 1.09% of the company’s stock.

About ABB

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.