PNC Financial Services Group Inc. Sells 2,513 Shares of Hexcel Co. (NYSE:HXL)

PNC Financial Services Group Inc. reduced its position in shares of Hexcel Co. (NYSE:HXL) by 23.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,996 shares of the aerospace company’s stock after selling 2,513 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hexcel were worth $501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in shares of Hexcel during the third quarter worth about $30,000. Allworth Financial LP grew its holdings in shares of Hexcel by 1,069.8% during the fourth quarter. Allworth Financial LP now owns 620 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 567 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Hexcel in the fourth quarter worth approximately $49,000. Manchester Capital Management LLC lifted its stake in shares of Hexcel by 100.0% in the fourth quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 420 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Hexcel in the fourth quarter worth approximately $57,000. 95.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a research note on Monday. Truist Financial lifted their price objective on Hexcel from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada boosted their price target on Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their price target on Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Finally, TD Cowen raised Hexcel to a “hold” rating in a research note on Monday, February 24th. 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. According to data from MarketBeat, Hexcel currently has a consensus rating of “Hold” and a consensus price target of $73.09.

Hexcel Trading Up 1.7 %

NYSE HXL opened at $57.90 on Thursday. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 1.72 and a beta of 1.30. Hexcel Co. has a 52 week low of $55.25 and a 52 week high of $73.58. The business has a 50 day moving average price of $63.42 and a 200-day moving average price of $62.34. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46.

Hexcel (NYSE:HXL) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Hexcel had a return on equity of 10.66% and a net margin of 6.94%. As a group, equities analysts expect that Hexcel Co. will post 2.14 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.68 annualized dividend and a yield of 1.17%. This is an increase from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s dividend payout ratio is 42.77%.

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.