Raymond James Trust N.A. reduced its stake in Hexcel Co. (NYSE:HXL – Get Rating) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,130 shares of the aerospace company’s stock after selling 188 shares during the period. Raymond James Trust N.A.’s holdings in Hexcel were worth $213,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Hexcel by 6.0% in the 1st quarter. BlackRock Inc. now owns 8,420,295 shares of the aerospace company’s stock worth $500,755,000 after acquiring an additional 475,375 shares in the last quarter. Bank of America Corp DE grew its stake in Hexcel by 6.0% in the 1st quarter. Bank of America Corp DE now owns 3,742,806 shares of the aerospace company’s stock worth $222,585,000 after acquiring an additional 212,487 shares in the last quarter. State Street Corp grew its stake in Hexcel by 11.2% in the 1st quarter. State Street Corp now owns 3,409,631 shares of the aerospace company’s stock worth $202,771,000 after acquiring an additional 344,711 shares in the last quarter. Eaton Vance Management grew its stake in Hexcel by 4.4% in the 1st quarter. Eaton Vance Management now owns 2,476,907 shares of the aerospace company’s stock worth $147,301,000 after acquiring an additional 103,891 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Hexcel by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 2,394,575 shares of the aerospace company’s stock worth $142,405,000 after acquiring an additional 80,765 shares in the last quarter. 97.87% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Hexcel news, insider Gina Fitzsimons sold 1,257 shares of the firm’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $61.64, for a total value of $77,481.48. Following the completion of the transaction, the insider now owns 1,538 shares of the company’s stock, valued at $94,802.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.55% of the company’s stock.
Hexcel Price Performance
Hexcel (NYSE:HXL – Get Rating) last posted its quarterly earnings results on Monday, October 24th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $364.70 million during the quarter, compared to analysts’ expectations of $398.38 million. Hexcel had a net margin of 7.17% and a return on equity of 6.01%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.13 earnings per share. As a group, analysts predict that Hexcel Co. will post 1.2 earnings per share for the current fiscal year.
Hexcel Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.64%. Hexcel’s dividend payout ratio is currently 31.50%.
Wall Street Analyst Weigh In
A number of brokerages have commented on HXL. Royal Bank of Canada upped their target price on shares of Hexcel from $57.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 26th. Truist Financial increased their price objective on shares of Hexcel from $52.00 to $53.00 in a research note on Monday, January 9th. Wolfe Research assumed coverage on shares of Hexcel in a research note on Monday, October 10th. They set a “peer perform” rating on the stock. BMO Capital Markets dropped their price objective on shares of Hexcel from $66.00 to $61.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 1st. Finally, StockNews.com assumed coverage on shares of Hexcel in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.56.
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates through two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in automotive, marine, and trains.
- Get a free copy of the StockNews.com research report on Hexcel (HXL)
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