ABB (NYSE:ABBNY) Sees Strong Trading Volume

ABB Ltd (NYSE:ABBNY) shares saw unusually-strong trading volume on Tuesday . Approximately 472,705 shares were traded during trading, an increase of 130% from the previous session’s volume of 205,344 shares.The stock last traded at $46.64 and had previously closed at $46.30.

Wall Street Analysts Forecast Growth

ABBNY has been the subject of a number of research reports. Citigroup raised shares of ABB from a “neutral” rating to a “buy” rating in a report on Monday, December 11th. TD Cowen lowered shares of ABB from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 9th.

ABB Stock Down 0.6 %

The business has a fifty day moving average of $44.96 and a 200 day moving average of $40.68. The firm has a market cap of $87.25 billion, a P/E ratio of 23.18, a P/E/G ratio of 3.67 and a beta of 1.20. 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 released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $8.15 billion. ABB had a return on equity of 27.93% and a net margin of 11.62%. On average, equities research analysts predict that ABB Ltd will post 2.05 EPS for the current year.

Institutional Investors Weigh In On ABB

Large investors have recently modified their holdings of the business. Millennium Management LLC boosted its position in shares of ABB by 260.8% during the fourth quarter. Millennium Management LLC now owns 596,554 shares of the industrial products company’s stock worth $18,171,000 after buying an additional 431,194 shares during the period. Two Sigma Investments LP boosted its position in shares of ABB by 1,125.1% during the first quarter. Two Sigma Investments LP now owns 438,582 shares of the industrial products company’s stock worth $15,043,000 after buying an additional 402,782 shares during the period. Morgan Stanley boosted its position in shares of ABB by 5.9% during the fourth quarter. Morgan Stanley now owns 5,316,270 shares of the industrial products company’s stock worth $161,934,000 after buying an additional 295,580 shares during the period. Cerity Partners LLC boosted its position in shares of ABB by 1,100.9% during the fourth quarter. Cerity Partners LLC now owns 235,442 shares of the industrial products company’s stock worth $7,172,000 after buying an additional 215,837 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of ABB by 11.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,946,711 shares of the industrial products company’s stock worth $62,956,000 after buying an additional 203,012 shares during the period. 1.09% of the stock is currently owned by institutional investors.

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.