BlackRock Inc. Buys Shares of 1,940,474 Ducommun Incorporated $DCO

Key Points

• BlackRock acquired 1.94 million Ducommun shares worth approximately $359.4 million, giving it a 12.86% stake. Institutional investors collectively own 92.15% of the aerospace company.
• Analysts maintain a positive outlook, with Ducommun receiving a “Moderate Buy” consensus rating 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 $1.18 in adjusted earnings per share versus the $0.98 consensus and revenue of $224.49 million, up 11% year over year. Shares opened at $181.32, down 1.4%.

BlackRock Inc. purchased a new position in shares of Ducommun Incorporated (NYSE:DCO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,940,474 shares of the aerospace company's stock, valued at approximately $359,395,000. BlackRock Inc. owned 12.86% of Ducommun at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DCO. Parvin Asset Management LLC boosted its stake in Ducommun by 8.9% in the first quarter. Parvin Asset Management LLC now owns 1,340 shares of the aerospace company's stock valued at $163,000 after acquiring an additional 110 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Ducommun by 3.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company's stock worth $311,000 after purchasing an additional 117 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Ducommun by 2.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company's stock worth $657,000 after purchasing an additional 153 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ducommun by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company's stock worth $414,000 after purchasing an additional 155 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Ducommun by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 2,523 shares of the aerospace company's stock valued at $240,000 after purchasing an additional 163 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DCO has been the topic of a number of recent analyst reports. Citigroup restated a "buy" rating on shares of Ducommun in a report on Wednesday, August 12th. Truist Financial upped their price target on Ducommun from $150.00 to $209.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Wall Street Zen raised shares of Ducommun from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. B. Riley Financial restated a "buy" rating on shares of Ducommun in a report on Friday, August 7th. Finally, Royal Bank Of Canada upped their target price on shares of Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a research note on Friday, August 7th. One equities research 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $192.60.

Insider Transactions at Ducommun

In related news, VP Laureen S. Gonzalez sold 589 shares of the stock in a transaction dated Thursday, May 28th. The stock was 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 directly owned 11,172 shares in the company, valued at approximately $1,698,032.28. This trade represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen G. Oswald sold 2,500 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $203.95, for a total value of $509,875.00. Following the transaction, the chief executive officer owned 383,864 shares of the company's stock, valued at approximately $78,289,062.80. The trade was a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,855 shares of company stock worth $1,759,228. Corporate insiders own 5.00% of the company's stock.

Ducommun Trading Down 1.4%

Shares of NYSE:DCO opened at $181.32 on Wednesday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -96.96 and a beta of 1.04. Ducommun Incorporated has a 12 month low of $84.76 and a 12 month high of $210.39. The company's fifty day simple moving average is $181.29 and its 200 day simple moving average is $152.12. 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 (NYSE:DCO - Get Free Report) last announced its earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. The firm had revenue of $224.49 million during the quarter, compared to analyst estimates of $214.32 million. Ducommun had a negative net margin of 3.10% and a positive return on equity of 9.20%. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. As a group, research analysts forecast that Ducommun Incorporated will post 4.26 EPS for the current fiscal year.

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.

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