Hubbell (NYSE:HUBB) Downgraded by Deutsche Bank Aktiengesellschaft to “Hold”

Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell (NYSE:HUBB) from a buy rating to a hold rating in a report published on Tuesday, MarketBeat.com reports. Deutsche Bank Aktiengesellschaft currently has $473.00 price target on the industrial products company’s stock, down from their previous price target of $493.00.

A number of other research firms also recently issued reports on HUBB. Barclays increased their price objective on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Mizuho increased their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company boosted their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $449.11.

Hubbell Stock Down 0.7 %

Shares of NYSE HUBB opened at $460.55 on Tuesday. The firm has a fifty day simple moving average of $442.31 and a two-hundred day simple moving average of $402.71. Hubbell has a 12 month low of $293.91 and a 12 month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $24.72 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm earned $3.95 earnings per share. Hubbell’s revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Hubbell will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $1.32 dividend. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.15%. Hubbell’s dividend payout ratio is 38.04%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUBB. Tidal Investments LLC raised its stake in Hubbell by 8.5% during the 3rd quarter. Tidal Investments LLC now owns 2,358 shares of the industrial products company’s stock valued at $1,010,000 after buying an additional 184 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Hubbell in the 3rd quarter worth $247,000. M&T Bank Corp grew its holdings in shares of Hubbell by 0.5% in the third quarter. M&T Bank Corp now owns 26,242 shares of the industrial products company’s stock worth $11,241,000 after acquiring an additional 124 shares during the period. Unigestion Holding SA purchased a new stake in Hubbell during the third quarter valued at $861,000. Finally, Rehmann Capital Advisory Group lifted its holdings in Hubbell by 2.5% in the third quarter. Rehmann Capital Advisory Group now owns 1,707 shares of the industrial products company’s stock valued at $731,000 after acquiring an additional 41 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Company 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.