LPL Financial LLC trimmed its stake in shares of Hexcel Co. (NYSE:HXL – Free Report) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,252 shares of the aerospace company’s stock after selling 3,619 shares during the quarter. LPL Financial LLC owned approximately 0.21% of Hexcel worth $13,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Hexcel by 1.2% in the first quarter. BlackRock Inc. now owns 9,171,181 shares of the aerospace company’s stock worth $625,933,000 after purchasing an additional 112,122 shares in the last quarter. Morgan Stanley increased its holdings in shares of Hexcel by 838.6% during the fourth quarter. Morgan Stanley now owns 6,810,199 shares of the aerospace company’s stock valued at $400,780,000 after acquiring an additional 6,084,592 shares in the last quarter. State Street Corp increased its holdings in shares of Hexcel by 11.2% during the first quarter. State Street Corp now owns 3,409,631 shares of the aerospace company’s stock valued at $202,771,000 after acquiring an additional 344,711 shares in the last quarter. Eaton Vance Management increased its holdings in shares of Hexcel by 4.4% during the first quarter. Eaton Vance Management now owns 2,476,907 shares of the aerospace company’s stock valued at $147,301,000 after acquiring an additional 103,891 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Hexcel by 3.5% during the first quarter. Wellington Management Group LLP now owns 2,394,575 shares of the aerospace company’s stock valued at $142,405,000 after buying an additional 80,765 shares during the last quarter. 94.71% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on HXL shares. Deutsche Bank Aktiengesellschaft started coverage on Hexcel in a research report on Wednesday, September 27th. They set a “hold” rating and a $70.00 target price on the stock. Royal Bank of Canada cut their price objective on Hexcel from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets dropped their price target on Hexcel from $73.00 to $71.00 and set a “market perform” rating on the stock in a research report on Thursday. Truist Financial dropped their price target on Hexcel from $73.00 to $71.00 in a research report on Wednesday, July 26th. Finally, Vertical Research raised Hexcel from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Hexcel presently has a consensus rating of “Hold” and an average price target of $74.33.
Hexcel Price Performance
HXL opened at $59.61 on Friday. The stock has a market capitalization of $5.01 billion, a P/E ratio of 31.71, a PEG ratio of 1.03 and a beta of 1.24. Hexcel Co. has a 12-month low of $53.73 and a 12-month high of $79.08. The stock has a 50-day moving average price of $67.89 and a 200-day moving average price of $70.56. The company has a current ratio of 3.03, a quick ratio of 1.63 and a debt-to-equity ratio of 0.46.
Hexcel (NYSE:HXL – Get Free Report) last issued its earnings results on Tuesday, October 24th. The aerospace company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.05). Hexcel had a net margin of 9.14% and a return on equity of 9.36%. The company had revenue of $419.50 million for the quarter, compared to analysts’ expectations of $427.06 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The company’s revenue was up 15.0% compared to the same quarter last year. Equities analysts predict that Hexcel Co. will post 1.89 earnings per share for the current fiscal year.
Hexcel Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Friday, November 3rd will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, November 2nd. Hexcel’s dividend payout ratio is currently 26.60%.
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.
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