Hensoldt Insider Bets on a Turnaround as Management Holds the Line on €2.75 Billion Guidance
Veröffentlicht: 30.06.2026 um 14:06 Uhr, Redaktion boerse-global.de
The defence electronics group’s stock has taken a beating, but a well-timed share purchase by the chief executive is sending a clear signal to the market. Oliver Dörre acquired Hensoldt shares worth nearly €64,000 at an average price of €63.87, the exact low point of the year so far. The move comes amid a broader sell-off in European defence equities and a specific blow to the company’s order book.
The trigger for the recent weakness was a surprise decision by Germany’s defence ministry to halt the F126 frigate programme. Hensoldt had been contracted to supply maritime surveillance radars for the project, a deal valued at over €200 million. More than a third of that sum has already been recognised as revenue, but the cancellation raises questions about the remaining order backlog. Management expects low double-digit million euro revenues from the programme this year, but the final accounting will hinge on negotiations with partners.
Despite the political headwind, Hensoldt is sticking to its full-year targets. The company continues to aim for €2.75 billion in sales and an adjusted operating margin between 18.5% and 19.0%. In a new detail, the group has now specified that free cash flow in the 2026 financial year should amount to roughly half of its adjusted operating profit. That clarification comes as the company works through a record order book while boosting capital spending.
Should investors sell immediately? Or is it worth buying Hensoldt?
The stock, which ended Monday at €68.32, has recovered some ground from its June trough of €63.12 but remains deep in the red. On a one-month view, the shares are still down around 19%. Technicians point to a glimmer of hope: the relative strength index has risen to 39.7 and is gradually exiting oversold territory, often interpreted as an early buy signal. Yet the immediate resistance at the 50-day moving average of €77.13 remains a formidable barrier.
The correction is not unique to Hensoldt. High interest rates and fears of a valuation bubble have triggered a sector-wide consolidation, pulling down peers such as Rheinmetall. Demand fundamentals, however, remain robust. Investors will get a clearer picture on 31 July, when the company publishes its half-year results. The first quarter delivered an operating margin of just 8.9%, so a strong ramp-up will be needed to hit the target range. The DZ Bank, which retains a €90 price target, is betting the numbers will confirm that the turnaround story is intact.
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