Jennison Associates LLC Sells 1,430 Shares of Hexcel Co. (NYSE:HXL)

Jennison Associates LLC cut its position in shares of Hexcel Co. (NYSE:HXL) by 28.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,608 shares of the aerospace company’s stock after selling 1,430 shares during the period. Jennison Associates LLC’s holdings in Hexcel were worth $223,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HXL. Prospera Financial Services Inc lifted its position in Hexcel by 56.0% during the third quarter. Prospera Financial Services Inc now owns 45,056 shares of the aerospace company’s stock valued at $2,786,000 after purchasing an additional 16,170 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Hexcel in the 3rd quarter valued at about $304,000. Quest Partners LLC grew its position in Hexcel by 166.9% in the third quarter. Quest Partners LLC now owns 11,888 shares of the aerospace company’s stock worth $735,000 after acquiring an additional 7,434 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Hexcel by 11.9% during the third quarter. Thrivent Financial for Lutherans now owns 233,305 shares of the aerospace company’s stock worth $14,425,000 after acquiring an additional 24,776 shares during the last quarter. Finally, RiverPark Advisors LLC raised its position in Hexcel by 26.0% during the third quarter. RiverPark Advisors LLC now owns 6,693 shares of the aerospace company’s stock valued at $414,000 after purchasing an additional 1,381 shares during the period. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

HXL has been the topic of several analyst reports. Truist Financial cut their target price on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets cut their price objective on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company raised their target price on shares of Hexcel from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $76.00 to $68.00 in a report on Wednesday, August 14th. Finally, Vertical Research downgraded shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Hexcel has an average rating of “Hold” and a consensus price target of $71.31.

Hexcel Stock Up 2.8 %

Shares of NYSE HXL opened at $61.19 on Monday. The stock has a 50 day moving average price of $60.97 and a 200 day moving average price of $63.54. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 46.71, a PEG ratio of 1.76 and a beta of 1.30. Hexcel Co. has a 52-week low of $57.50 and a 52-week high of $77.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $457.00 million for the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. Sell-side analysts expect that Hexcel Co. will post 2.02 earnings per share for the current year.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.98%. Hexcel’s payout ratio is presently 45.80%.

Hexcel Profile

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.