Bank of America Corp DE Increases Holdings in Ducommun Incorporated $DCO

Key Points

• Bank of America increased its Ducommun stake by 18.5% in the first quarter, owning 50,637 shares valued at approximately $6.2 million. Institutional investors collectively own 92.15% of the aerospace company.
• Ducommun reported quarterly EPS of $1.18, exceeding the $0.98 consensus estimate, while revenue rose 11% year over year to $224.5 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $192.60; Truist recently raised its target to $209.

Bank of America Corp DE grew its stake in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,637 shares of the aerospace company's stock after buying an additional 7,922 shares during the period. Bank of America Corp DE owned 0.34% of Ducommun worth $6,178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. raised its holdings in shares of Ducommun by 1,993.3% in the 2nd quarter. Alliancebernstein L.P. now owns 302,969 shares of the aerospace company's stock valued at $25,034,000 after acquiring an additional 288,496 shares in the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of Ducommun during the fourth quarter worth about $26,028,000. Millennium Management LLC grew its holdings in shares of Ducommun by 267.3% during the fourth quarter. Millennium Management LLC now owns 116,872 shares of the aerospace company's stock worth $11,118,000 after purchasing an additional 85,056 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Ducommun by 79.7% in the fourth quarter. Van ECK Associates Corp now owns 186,835 shares of the aerospace company's stock worth $17,774,000 after purchasing an additional 82,859 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in Ducommun by 839.7% in the third quarter. Two Sigma Investments LP now owns 72,740 shares of the aerospace company's stock valued at $6,992,000 after purchasing an additional 64,999 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ducommun news, CEO Stephen G. Oswald sold 5,766 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $201.15, for a total transaction of $1,159,830.90. Following the completion of the sale, the chief executive officer directly owned 385,875 shares in the company, valued at $77,618,756.25. The trade was a 1.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is currently owned by company insiders.

Ducommun Price Performance

Shares of DCO stock opened at $184.90 on Thursday. The business's fifty day moving average is $181.71 and its 200 day moving average is $152.59. The company has a quick ratio of 2.38, a current ratio of 3.36 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -98.88 and a beta of 1.04. Ducommun Incorporated has a twelve month low of $84.76 and a twelve month high of $210.39.

Ducommun (NYSE:DCO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.20. The company had revenue of $224.49 million for the quarter, compared to the consensus estimate 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 prior year, the business posted $0.88 EPS. Research analysts expect that Ducommun Incorporated will post 4.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DCO shares. Truist Financial increased their target price on Ducommun from $150.00 to $209.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. The Goldman Sachs Group reiterated a "buy" rating on shares of Ducommun in a report on Monday, August 10th. Citigroup reiterated a "buy" rating on shares of Ducommun in a research report on Wednesday, August 12th. Weiss Ratings cut Ducommun from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. Finally, Zacks Research upgraded Ducommun from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. One investment 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. Based on data from MarketBeat, Ducommun currently has a consensus rating of "Moderate Buy" and an average target price of $192.60.

Ducommun Company 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.

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