Jennison Associates LLC Sells 150,686 Shares of Hexcel Corporation $HXL

Key Points

• Jennison Associates LLC cut its Hexcel stake by 11.3% in the first quarter, selling 150,686 shares and ending with 1,184,316 shares valued at about $95.8 million.
• Hexcel reported stronger-than-expected quarterly results, posting EPS of $0.59 versus $0.42 expected and revenue of $501.5 million, up 7.7% from a year earlier.
• Wall Street remains cautious overall: analysts’ consensus rating is “Hold” with a $94 average price target, even though several firms recently raised their targets to the $97-$105 range.

Jennison Associates LLC lowered its stake in Hexcel Corporation (NYSE:HXL - Free Report) by 11.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,184,316 shares of the aerospace company's stock after selling 150,686 shares during the quarter. Jennison Associates LLC owned 1.57% of Hexcel worth $95,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GHP Investment Advisors Inc. bought a new position in Hexcel in the 1st quarter worth $28,000. Prosperity Bancshares Inc purchased a new stake in shares of Hexcel in the fourth quarter worth $36,000. Cedar Mountain Advisors LLC bought a new stake in shares of Hexcel during the 1st quarter valued at $37,000. Transamerica Financial Advisors LLC grew its position in shares of Hexcel by 181.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 506 shares of the aerospace company's stock worth $37,000 after purchasing an additional 326 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in Hexcel during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HXL. Jefferies Financial Group boosted their price target on shares of Hexcel from $95.00 to $105.00 and gave the stock a "hold" rating in a research note on Monday, July 6th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $105.00 target price on shares of Hexcel in a report on Friday, April 24th. KeyCorp started coverage on Hexcel in a report on Wednesday, March 25th. They set a "sector weight" rating for the company. BMO Capital Markets increased their price target on Hexcel from $85.00 to $97.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company assumed coverage on Hexcel in a research note on Wednesday, April 1st. They set an "overweight" rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hexcel has a consensus rating of "Hold" and a consensus target price of $94.00.

Hexcel Stock Down 0.2%

HXL stock opened at $103.63 on Monday. The company has a market capitalization of $7.82 billion, a P/E ratio of 68.18, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. Hexcel Corporation has a 12 month low of $58.20 and a 12 month high of $104.39. The firm's fifty day simple moving average is $94.57 and its 200-day simple moving average is $88.26. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.45 and a quick ratio of 1.37.

Hexcel (NYSE:HXL - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.17. The firm had revenue of $501.50 million during the quarter, compared to analysts' expectations of $488.11 million. Hexcel had a net margin of 6.07% and a return on equity of 11.08%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. Hexcel has set its FY 2026 guidance at 2.100-2.300 EPS. As a group, equities research analysts forecast that Hexcel Corporation will post 2.26 earnings per share for the current year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a dividend of $0.18 per share. The ex-dividend date was Monday, May 4th. This represents a $0.72 dividend on an annualized basis and a yield of 0.7%. Hexcel's dividend payout ratio is currently 47.37%.

About Hexcel

Hexcel Corporation is a global leader in advanced composite materials for aerospace and industrial applications. The company specializes in the development and manufacture of lightweight, high-performance products that enhance fuel efficiency, durability and structural strength. Its offerings are critical to the aerospace sector, where demand for lighter, more efficient aircraft drives continuous innovation in materials.

Hexcel's product portfolio encompasses carbon fiber reinforcements, pre-impregnated composites (prepregs), honeycomb core, engineered adhesives and structural film adhesives.

Want to see what other hedge funds are holding HXL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hexcel Corporation (NYSE:HXL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.