Deutsche Bank AG Buys New Shares in Ducommun Incorporated $DCO

Key Points

• Deutsche Bank acquired 221,884 Ducommun shares during the second quarter, worth approximately $41.1 million and representing about 1.47% of the aerospace company. Institutional investors and hedge funds collectively own 92.15% of DCO.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $192.60. Truist raised its target to $209, while B. Riley and Goldman Sachs reaffirmed “Buy” ratings.
• Ducommun’s latest quarterly results exceeded expectations, with adjusted earnings of $1.18 per share versus a $0.98 estimate and revenue up 11% year over year to $224.49 million. However, insiders have sold 8,855 shares worth about $1.76 million over the past 90 days.

Deutsche Bank AG purchased a new stake in shares of Ducommun Incorporated (NYSE:DCO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 221,884 shares of the aerospace company's stock, valued at approximately $41,095,000. Deutsche Bank AG owned about 1.47% of Ducommun at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Ducommun by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company's stock valued at $80,134,000 after purchasing an additional 19,143 shares in the last quarter. State Street Corp increased its holdings in Ducommun by 10.4% in the fourth quarter. State Street Corp now owns 670,966 shares of the aerospace company's stock worth $63,829,000 after purchasing an additional 63,070 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 buying an additional 5,899 shares during the period. GW&K Investment Management LLC lifted its stake in 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 buying an additional 6,192 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Ducommun by 5.4% during the 3rd quarter. Alliancebernstein L.P. now owns 319,470 shares of the aerospace company's stock worth $30,711,000 after buying an additional 16,501 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ducommun

In related news, VP Laureen S. Gonzalez sold 589 shares of Ducommun stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total value of $89,522.11. Following the sale, the vice president owned 11,172 shares of the company's stock, valued at approximately $1,698,032.28. The trade was a 5.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen G. Oswald sold 2,500 shares of Ducommun stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $203.95, for a total transaction of $509,875.00. Following the completion of the sale, the chief executive officer directly owned 383,864 shares in the company, valued at $78,289,062.80. This trade represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,855 shares of company stock valued at $1,759,228. 5.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DCO shares. B. Riley Financial reaffirmed a "buy" rating on shares of Ducommun in a research note on Friday, August 7th. The Goldman Sachs Group reissued a "buy" rating on shares of Ducommun in a research note on Monday, August 10th. Weiss Ratings lowered Ducommun from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. Truist Financial increased their target price on Ducommun from $150.00 to $209.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Finally, Wall Street Zen raised shares of Ducommun from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.60.

Ducommun Trading Up 1.3%

Shares of Ducommun stock opened at $191.61 on Friday. The firm has a market cap of $2.89 billion, a PE ratio of -102.46 and a beta of 1.04. Ducommun Incorporated has a 1 year low of $84.76 and a 1 year high of $210.39. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 2.38. The stock has a fifty day moving average price of $180.55 and a 200-day moving average price of $150.99.

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, beating 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 company had revenue of $224.49 million during the quarter, compared to analyst estimates of $214.32 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Ducommun Incorporated will post 4.26 EPS for the current year.

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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