JPMorgan Chase & Co. Sells 10,508 Shares of Hubbell Incorporated (NYSE:HUBB)

JPMorgan Chase & Co. trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,806,630 shares of the industrial products company's stock after selling 10,508 shares during the period. JPMorgan Chase & Co. owned about 3.37% of Hubbell worth $773,871,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. HB Wealth Management LLC purchased a new stake in shares of Hubbell during the second quarter valued at approximately $210,000. Principal Financial Group Inc. grew its holdings in Hubbell by 5.3% in the 2nd quarter. Principal Financial Group Inc. now owns 213,995 shares of the industrial products company's stock worth $78,211,000 after acquiring an additional 10,727 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Hubbell by 22.3% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,474 shares of the industrial products company's stock valued at $7,117,000 after acquiring an additional 3,551 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Hubbell by 18.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,809 shares of the industrial products company's stock valued at $2,123,000 after acquiring an additional 897 shares during the last quarter. Finally, Cadinha & Co. LLC boosted its holdings in shares of Hubbell by 0.4% during the second quarter. Cadinha & Co. LLC now owns 26,143 shares of the industrial products company's stock worth $9,555,000 after purchasing an additional 109 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays upped their price target on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. lowered Hubbell from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company lifted their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $472.13.

Hubbell Stock Down 1.7 %

NYSE HUBB traded down $7.35 during trading hours on Friday, reaching $423.11. 280,287 shares of the company's stock traded hands, compared to its average volume of 436,930. Hubbell Incorporated has a 52-week low of $315.38 and a 52-week high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a 50-day simple moving average of $447.98 and a 200 day simple moving average of $411.99. The firm has a market cap of $22.71 billion, a PE ratio of 30.48, a PEG ratio of 1.70 and a beta of 0.91.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the previous year, the firm posted $3.95 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $1.32 dividend. This is a boost from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, November 29th. Hubbell's dividend payout ratio is currently 38.04%.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares of the company's stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% 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.