Hubbell Incorporated (NYSE:HUBB) Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 817,038 shares of the industrial products company's stock after selling 56,235 shares during the quarter. Deutsche Bank AG owned about 1.52% of Hubbell worth $342,249,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV raised its stake in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 30 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Hubbell in the fourth quarter worth about $30,000. Johnson Financial Group Inc. grew its holdings in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after purchasing an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Hubbell in the fourth quarter worth about $69,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HUBB shares. JPMorgan Chase & Co. cut their price target on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Barclays cut their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $449.38.

Hubbell Stock Up 2.5%

Hubbell stock traded up $9.47 during midday trading on Tuesday, hitting $387.88. 843,224 shares of the company's stock were exchanged, compared to its average volume of 526,130. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The firm has a 50-day moving average of $343.61 and a two-hundred day moving average of $398.18. The company has a market cap of $20.70 billion, a PE ratio of 27.01, a P/E/G ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business posted $3.60 earnings per share. The firm's quarterly revenue was down 2.4% on a year-over-year basis. As a group, analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio is currently 35.72%.

Hubbell announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company's stock.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.