Raymond James Financial Services Advisors Inc. reduced its stake in ABB Ltd (NYSE:ABB) by 16.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,469 shares of the industrial products company’s stock after selling 20,533 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in ABB were worth $2,231,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Summit Trail Advisors LLC increased its stake in ABB by 3,057.8% during the first quarter. Summit Trail Advisors LLC now owns 125,489 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 121,515 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in ABB during the first quarter worth about $143,000. Becker Capital Management Inc. acquired a new stake in ABB during the first quarter worth about $201,000. Hsbc Holdings PLC acquired a new stake in ABB during the first quarter worth about $238,000. Finally, Signaturefd LLC acquired a new stake in ABB during the first quarter worth about $255,000. Institutional investors and hedge funds own 5.77% of the company’s stock.

Shares of NYSE:ABB opened at $22.54 on Friday. The stock has a market cap of $48.31 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.39 and a beta of 1.21. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. ABB Ltd has a 12 month low of $21.22 and a 12 month high of $28.67.

ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $9.03 billion. ABB had a return on equity of 19.94% and a net margin of 6.24%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. research analysts predict that ABB Ltd will post 1.38 EPS for the current fiscal year.

Several brokerages have commented on ABB. Zacks Investment Research upgraded ABB from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Jefferies Financial Group upgraded ABB from an “underperform” rating to a “hold” rating and set a $23.00 price target for the company in a research note on Wednesday, July 11th. ValuEngine lowered ABB from a “hold” rating to a “sell” rating in a research note on Tuesday, May 29th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a research note on Thursday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $27.00.

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.

Further Reading: Growth Stocks

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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