ABB Sees Unusually High Options Volume (ABB)
ABB Ltd (NYSE:ABB) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 5,760 call options on the company. This represents an increase of 2,025% compared to the typical daily volume of 271 call options.
ABB has been the topic of a number of recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a research note on Thursday, August 23rd. ValuEngine upgraded shares of ABB from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. DNB Markets initiated coverage on shares of ABB in a research note on Monday, September 3rd. They issued a “buy” rating for the company. Citigroup upgraded shares of ABB from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Societe Generale upgraded shares of ABB from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $24.34.
Several large investors have recently bought and sold shares of ABB. Clearbridge Investments LLC grew its position in shares of ABB by 14,142.2% in the third quarter. Clearbridge Investments LLC now owns 591,050 shares of the industrial products company’s stock valued at $13,967,000 after purchasing an additional 586,900 shares during the period. Belpointe Asset Management LLC acquired a new stake in shares of ABB in the third quarter valued at about $132,000. Glenmede Trust Co. NA grew its position in shares of ABB by 471.1% in the third quarter. Glenmede Trust Co. NA now owns 146,543 shares of the industrial products company’s stock valued at $3,462,000 after purchasing an additional 120,884 shares during the period. Henry James International Management Inc. acquired a new stake in shares of ABB in the third quarter valued at about $1,043,000. Finally, Covington Capital Management grew its position in shares of ABB by 231.9% in the third quarter. Covington Capital Management now owns 5,725 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 4.87% of the company’s stock.
ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.04). ABB had a return on equity of 19.99% and a net margin of 6.24%. The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.46 billion. On average, equities analysts predict that ABB will post 1.39 EPS for the current year.
ABB Company Profile
ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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