Conning Inc. reduced its position in ABB Ltd (NYSE:ABB) by 84.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,168 shares of the industrial products company’s stock after selling 142,775 shares during the quarter. Conning Inc.’s holdings in ABB were worth $672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. purchased a new stake in ABB in the third quarter worth $5,507,000. Raymond James Financial Services Advisors Inc. increased its position in ABB by 9.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 116,765 shares of the industrial products company’s stock worth $2,890,000 after buying an additional 10,488 shares during the last quarter. Eagle Ridge Investment Management increased its position in ABB by 3.9% in the third quarter. Eagle Ridge Investment Management now owns 135,494 shares of the industrial products company’s stock worth $3,353,000 after buying an additional 5,133 shares during the last quarter. Aperio Group LLC increased its position in ABB by 2.8% in the third quarter. Aperio Group LLC now owns 857,972 shares of the industrial products company’s stock worth $21,235,000 after buying an additional 23,062 shares during the last quarter. Finally, Steinberg Global Asset Management increased its position in ABB by 18.8% in the third quarter. Steinberg Global Asset Management now owns 110,141 shares of the industrial products company’s stock worth $2,726,000 after buying an additional 17,445 shares during the last quarter. 4.43% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on ABB shares. Morgan Stanley downgraded ABB from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 21st. UBS AG reissued a “sell” rating on shares of ABB in a research report on Monday, July 24th. BidaskClub downgraded ABB from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Robert W. Baird set a $28.00 target price on ABB and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Zacks Investment Research downgraded ABB from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.50.

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ABB (NYSE:ABB) last announced its earnings results on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. ABB had a return on equity of 18.65% and a net margin of 6.79%. The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period last year, the firm earned $0.32 EPS. ABB’s revenue for the quarter was up 5.7% compared to the same quarter last year.

About ABB

ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.

Institutional Ownership by Quarter for ABB (NYSE:ABB)

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