Hexcel Co. (NYSE:HXL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in shares of Hexcel Co. (NYSE:HXL - Free Report) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,659 shares of the aerospace company's stock after selling 5,009 shares during the period. Corebridge Financial Inc. owned 0.11% of Hexcel worth $5,747,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new position in shares of Hexcel in the 3rd quarter valued at about $30,000. Allworth Financial LP raised its stake in shares of Hexcel by 1,069.8% during the 4th quarter. Allworth Financial LP now owns 620 shares of the aerospace company's stock worth $42,000 after buying an additional 567 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Hexcel during the 4th quarter valued at approximately $49,000. Manchester Capital Management LLC grew its stake in Hexcel by 100.0% in the 4th quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company's stock valued at $53,000 after acquiring an additional 420 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Hexcel in the 4th quarter worth $57,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on HXL shares. Barclays cut their target price on shares of Hexcel from $75.00 to $68.00 and set an "equal weight" rating for the company in a research note on Tuesday. Royal Bank of Canada boosted their price objective on Hexcel from $74.00 to $82.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Truist Financial decreased their target price on Hexcel from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. StockNews.com upgraded Hexcel from a "hold" rating to a "buy" rating in a research report on Monday, March 17th. Finally, Wells Fargo & Company raised their price objective on Hexcel from $81.00 to $87.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $72.25.

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Hexcel Trading Down 8.3 %

Shares of HXL traded down $4.67 during mid-day trading on Thursday, reaching $51.41. The stock had a trading volume of 1,547,895 shares, compared to its average volume of 963,345. Hexcel Co. has a 52-week low of $51.23 and a 52-week high of $73.58. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 32.33, a P/E/G ratio of 1.72 and a beta of 1.30. The business's fifty day moving average is $61.09 and its 200 day moving average is $61.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.20.

Hexcel (NYSE:HXL - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. On average, sell-side analysts predict that Hexcel Co. will post 2.14 EPS for the current fiscal year.

Hexcel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.32%. This is an increase from Hexcel's previous quarterly dividend of $0.15. Hexcel's payout ratio is currently 42.77%.

About Hexcel

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.