Hexcel Co. (NYSE:HXL) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its holdings in shares of Hexcel Co. (NYSE:HXL) by 13.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 969,034 shares of the aerospace company’s stock after selling 150,360 shares during the period. Jennison Associates LLC’s holdings in Hexcel were worth $71,466,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in HXL. CENTRAL TRUST Co raised its stake in shares of Hexcel by 68.1% during the 3rd quarter. CENTRAL TRUST Co now owns 442 shares of the aerospace company’s stock worth $29,000 after buying an additional 179 shares during the period. Cetera Trust Company N.A purchased a new stake in shares of Hexcel during the fourth quarter worth approximately $30,000. RiverPark Advisors LLC purchased a new stake in shares of Hexcel during the third quarter worth approximately $41,000. Arcadia Investment Management Corp MI increased its position in shares of Hexcel by 110.2% during the third quarter. Arcadia Investment Management Corp MI now owns 641 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 336 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Hexcel during the fourth quarter worth approximately $201,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Gina Fitzsimons sold 864 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total transaction of $62,294.40. Following the transaction, the insider now owns 3,375 shares of the company’s stock, valued at approximately $243,337.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $71.63, for a total transaction of $322,335.00. Following the transaction, the insider now owns 50,371 shares of the company’s stock, valued at approximately $3,608,074.73. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gina Fitzsimons sold 864 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the transaction, the insider now directly owns 3,375 shares in the company, valued at approximately $243,337.50. The disclosure for this sale can be found here. 1.85% of the stock is owned by corporate insiders.

Hexcel Stock Performance

NYSE HXL opened at $62.53 on Tuesday. The stock has a market cap of $5.20 billion, a PE ratio of 50.43, a P/E/G ratio of 1.28 and a beta of 1.23. The company has a current ratio of 2.74, a quick ratio of 1.68 and a debt-to-equity ratio of 0.41. Hexcel Co. has a twelve month low of $58.81 and a twelve month high of $79.08. The stock has a fifty day simple moving average of $71.17 and a 200-day simple moving average of $69.55.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Monday, April 22nd. The aerospace company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The business had revenue of $472.30 million during the quarter, compared to analysts’ expectations of $468.93 million. Hexcel had a return on equity of 9.31% and a net margin of 5.91%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. Equities analysts anticipate that Hexcel Co. will post 2.22 earnings per share for the current year.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, May 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.96%. Hexcel’s payout ratio is 48.39%.

Analyst Ratings Changes

HXL has been the subject of several research reports. Wells Fargo & Company boosted their price target on Hexcel from $78.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Truist Financial dropped their price target on Hexcel from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Barclays dropped their price target on Hexcel from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. UBS Group cut Hexcel from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $87.00 to $72.00 in a research report on Tuesday, January 30th. Finally, Northcoast Research cut Hexcel from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.50.

About Hexcel

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.