Hexcel Co. (NYSE:HXL) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in shares of Hexcel Co. (NYSE:HXL) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,367,433 shares of the aerospace company’s stock after selling 7,728 shares during the quarter. Geode Capital Management LLC owned approximately 1.69% of Hexcel worth $84,571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC acquired a new position in Hexcel in the 3rd quarter valued at $30,000. Capital Performance Advisors LLP purchased a new stake in shares of Hexcel during the third quarter worth $56,000. First Horizon Advisors Inc. raised its position in shares of Hexcel by 53.8% in the third quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock valued at $58,000 after buying an additional 326 shares during the last quarter. Huntington National Bank lifted its stake in shares of Hexcel by 30.8% in the third quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock worth $59,000 after buying an additional 225 shares in the last quarter. Finally, Eastern Bank acquired a new position in Hexcel during the third quarter worth about $62,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HXL shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, November 21st. UBS Group increased their price target on Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company boosted their price objective on Hexcel from $78.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their price target 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Hexcel currently has a consensus rating of “Hold” and an average price target of $71.33.

Hexcel Price Performance

Hexcel stock opened at $63.06 on Friday. The company’s 50 day simple moving average is $61.95 and its 200-day simple moving average is $62.65. 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 Co. has a 1 year low of $57.50 and a 1 year high of $77.09. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 48.14, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30.

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

Hexcel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, November 1st. Hexcel’s dividend payout ratio is currently 45.80%.

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.