Annex Advisory Services LLC Cuts Stock Position in Ducommun Incorporated $DCO

Key Points

• Annex Advisory Services LLC has reduced its stake in Ducommun Incorporated by 16.8%, selling 5,993 shares during the second quarter, and currently holds 29,731 shares valued at $2,457,000.
• Ducommun's recent earnings report showed a strong performance with an earnings per share (EPS) of $0.88, surpassing analysts' expectations, and a year-over-year revenue increase of 2.7%.
• Institutional investors and hedge funds now control 92.15% of Ducommun's stock, reflecting significant institutional interest in the company.

Annex Advisory Services LLC decreased its position in Ducommun Incorporated (NYSE:DCO - Free Report) by 16.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,731 shares of the aerospace company's stock after selling 5,993 shares during the period. Annex Advisory Services LLC owned 0.20% of Ducommun worth $2,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division lifted its stake in Ducommun by 200.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 1,500 shares of the aerospace company's stock valued at $87,000 after purchasing an additional 1,000 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Ducommun during the fourth quarter valued at $106,000. Virtus Advisers LLC acquired a new position in Ducommun during the first quarter valued at $103,000. Ameriprise Financial Inc. acquired a new stake in Ducommun in the 4th quarter valued at approximately $213,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Ducommun in the first quarter valued at $219,000. Institutional investors and hedge funds own 92.15% of the company's stock.

Ducommun Price Performance

Shares of NYSE DCO traded up $0.18 during mid-day trading on Monday, hitting $94.15. 124,478 shares of the company's stock traded hands, compared to its average volume of 129,362. Ducommun Incorporated has a 1 year low of $51.76 and a 1 year high of $96.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.17. The company has a market capitalization of $1.40 billion, a P/E ratio of 35.80 and a beta of 1.41. The company's 50-day moving average is $91.14 and its two-hundred day moving average is $75.45.

Ducommun (NYSE:DCO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.08. The business had revenue of $202.26 million during the quarter, compared to the consensus estimate of $199.29 million. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The business's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. On average, equities analysts anticipate that Ducommun Incorporated will post 3.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DCO. Truist Financial upped their target price on shares of Ducommun from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised Ducommun from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 10th. Zacks Research upgraded Ducommun to a "hold" rating in a report on Monday, August 11th. Royal Bank Of Canada boosted their price objective on shares of Ducommun from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Ducommun from $84.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.50.

Ducommun Profile

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.