Bank of America Corp DE Purchases 51,660 Shares of Ducommun Incorporated $DCO

Key Points

• Bank of America acquired 51,660 Ducommun shares during the second quarter, valued at approximately $9.6 million and representing about 0.34% of the company. Institutional investors collectively own 92.15% of DCO.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $192.60; Truist and RBC recently raised their targets to $209 and $200, respectively.
• Ducommun exceeded quarterly expectations, reporting EPS of $1.18 versus the $0.98 consensus and revenue of $224.49 million, up 11% year over year. CEO Stephen Oswald separately sold 5,766 shares for approximately $1.16 million.

Bank of America Corp DE acquired a new stake in shares of Ducommun Incorporated (NYSE:DCO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 51,660 shares of the aerospace company's stock, valued at approximately $9,568,000. Bank of America Corp DE owned about 0.34% of Ducommun as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DCO. Parvin Asset Management LLC increased its stake in Ducommun by 8.9% in the 1st quarter. Parvin Asset Management LLC now owns 1,340 shares of the aerospace company's stock worth $163,000 after acquiring an additional 110 shares during the last quarter. Allworth Financial LP bought a new position in shares of Ducommun during the 2nd quarter valued at approximately $26,000. ProShare Advisors LLC boosted its position in shares of Ducommun by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 2,523 shares of the aerospace company's stock valued at $240,000 after acquiring an additional 163 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Ducommun in the first quarter valued at $27,000. Finally, State of Wyoming purchased a new position in shares of Ducommun in the first quarter valued at $35,000. Hedge funds and other institutional investors own 92.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup reiterated a "buy" rating on shares of Ducommun in a research report on Wednesday, August 12th. Truist Financial upped their target price on shares of Ducommun from $150.00 to $209.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. B. Riley Financial reaffirmed a "buy" rating on shares of Ducommun in a report on Friday, August 7th. Royal Bank Of Canada lifted their price target on Ducommun from $175.00 to $200.00 and gave the stock a "sector performer" rating in a research report on Friday, August 7th. Finally, Weiss Ratings lowered Ducommun from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.60.

Insider Activity at Ducommun

In other news, CEO Stephen Oswald sold 5,766 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $201.15, for a total value of $1,159,830.90. Following the sale, the chief executive officer directly owned 385,875 shares in the company, valued at approximately $77,618,756.25. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company's stock.

Ducommun Trading Down 1.1%

DCO stock opened at $172.73 on Friday. The company has a quick ratio of 2.38, a current ratio of 3.36 and a debt-to-equity ratio of 0.39. Ducommun Incorporated has a twelve month low of $84.76 and a twelve month high of $210.39. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -92.37 and a beta of 1.04. The firm's fifty day simple moving average is $179.95 and its two-hundred day simple moving average is $159.13.

Ducommun (NYSE:DCO - Get Free Report) last released its earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. Ducommun had a negative net margin of 3.10% and a positive return on equity of 9.20%. The firm had revenue of $224.49 million during the quarter, compared to analyst estimates of $214.32 million. During the same quarter last year, the business earned $0.88 EPS. The business's revenue was up 11.0% on a year-over-year basis. As a group, analysts anticipate that Ducommun Incorporated will post 4.26 earnings per share for the current year.

Ducommun Profile

Ducommun Incorporated is a diversified manufacturing company that provides engineered products and production services primarily for the aerospace and defense industries. The company supplies components and assemblies used in commercial aircraft, military platforms, space systems and other specialized applications.

Ducommun's Electronic Systems business produces electronic and electromechanical assemblies, interconnect systems, high-reliability components, RF and microwave products, and other systems used in avionics, communications, radar and defense applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.