Hexcel Corporation (NYSE:HXL) Shares Bought by Jennison Associates LLC

Jennison Associates LLC grew its stake in Hexcel Corporation (NYSE:HXL - Free Report) by 10,767.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 392,091 shares of the aerospace company's stock after purchasing an additional 388,483 shares during the period. Jennison Associates LLC owned about 0.49% of Hexcel worth $21,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HXL. Parvin Asset Management LLC acquired a new stake in Hexcel in the 4th quarter valued at $66,000. NBC Securities Inc. purchased a new position in Hexcel during the first quarter valued at $61,000. Huntington National Bank increased its holdings in shares of Hexcel by 21.4% during the fourth quarter. Huntington National Bank now owns 1,159 shares of the aerospace company's stock valued at $73,000 after acquiring an additional 204 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Hexcel by 71.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company's stock worth $66,000 after buying an additional 499 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Hexcel by 61.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,272 shares of the aerospace company's stock valued at $80,000 after purchasing an additional 486 shares during the period. Institutional investors own 95.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. UBS Group cut their price objective on Hexcel from $53.00 to $51.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on Hexcel from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Truist Financial cut their price objective on Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen cut Hexcel from a "buy" rating to a "hold" rating in a research report on Sunday, April 27th. Finally, BMO Capital Markets decreased their target price on Hexcel from $72.00 to $52.00 and set a "market perform" rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $59.22.

Hexcel Stock Down 0.3%

NYSE:HXL traded down $0.20 during trading hours on Thursday, reaching $62.40. The company had a trading volume of 412,387 shares, compared to its average volume of 1,187,971. Hexcel Corporation has a twelve month low of $45.28 and a twelve month high of $71.05. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 41.36, a P/E/G ratio of 2.05 and a beta of 1.28. The business's 50-day simple moving average is $55.92 and its two-hundred day simple moving average is $57.64. The company has a quick ratio of 1.39, a current ratio of 2.59 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The aerospace company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.06). Hexcel had a return on equity of 10.36% and a net margin of 6.60%. The company had revenue of $456.50 million during the quarter, compared to analysts' expectations of $482.18 million. During the same period in the prior year, the firm earned $0.44 EPS. On average, equities analysts expect that Hexcel Corporation will post 2.14 earnings per share for the current year.

Hexcel Company 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.