Royal Bank of Canada Reduces Stock Position in Ducommun Incorporated $DCO

Royal Bank of Canada decreased its holdings in Ducommun Incorporated (NYSE:DCO) by 67.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,256 shares of the aerospace company’s stock after selling 45,341 shares during the period. Royal Bank of Canada’s holdings in Ducommun were worth $2,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Ducommun by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company’s stock worth $80,134,000 after acquiring an additional 19,143 shares in the last quarter. State Street Corp raised its stake in shares of Ducommun by 10.4% during the fourth quarter. State Street Corp now owns 670,966 shares of the aerospace company’s stock valued at $63,829,000 after acquiring an additional 63,070 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ducommun by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 333,371 shares of the aerospace company’s stock valued at $31,720,000 after purchasing an additional 5,899 shares during the period. GW&K Investment Management LLC boosted its holdings in shares of Ducommun by 2.0% in the fourth quarter. GW&K Investment Management LLC now owns 319,772 shares of the aerospace company’s stock valued at $30,420,000 after purchasing an additional 6,192 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Ducommun by 5.4% in the third quarter. Alliancebernstein L.P. now owns 319,470 shares of the aerospace company’s stock worth $30,711,000 after purchasing an additional 16,501 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Ducommun Price Performance

Shares of DCO stock opened at $206.54 on Monday. Ducommun Incorporated has a 1-year low of $84.76 and a 1-year high of $210.39. The stock’s 50-day moving average is $176.57 and its 200 day moving average is $148.23. The company has a market cap of $3.12 billion, a P/E ratio of -110.45 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 2.38.

Ducommun (NYSE:DCO) last posted its earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.20. The company had revenue of $224.49 million for the quarter, compared to analyst estimates of $214.32 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Research analysts predict that Ducommun Incorporated will post 4.26 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Laureen S. Gonzalez sold 589 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total transaction of $89,522.11. Following the completion of the transaction, the vice president owned 11,172 shares in the company, valued at $1,698,032.28. The trade was a 5.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen G. Oswald sold 5,766 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $201.15, for a total transaction of $1,159,830.90. Following the sale, the chief executive officer directly owned 385,875 shares of the company’s stock, valued at $77,618,756.25. The trade was a 1.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 7,967 shares of company stock worth $1,483,093. Corporate insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on DCO shares. Citigroup restated a “buy” rating on shares of Ducommun in a report on Wednesday. B. Riley Financial reissued a “buy” rating on shares of Ducommun in a research report on Friday, August 7th. Truist Financial raised their price target on Ducommun from $150.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada lifted their price objective on Ducommun from $175.00 to $200.00 and gave the company a “sector performer” rating in a report on Friday, August 7th. Finally, Weiss Ratings lowered shares of Ducommun from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $192.60.

Ducommun Profile

Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.

Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.