Goldman Sachs Group Inc. Cuts Position in Ducommun Incorporated $DCO

Key Points

• Goldman Sachs Group Inc. reduced its stake in Ducommun Incorporated by 12.5%, selling 11,414 shares in the first quarter, resulting in ownership of approximately 0.54% of the company valued at $4.63 million.
• Ducommun reported earnings of $0.88 per share, exceeding analyst estimates, with quarterly revenue reaching $202.26 million, a 2.7% increase year-over-year.
• Analysts have shown increased confidence in Ducommun, with several firms raising their price targets, including Royal Bank of Canada to $100 and Citigroup to $101, indicating a positive outlook for the stock.

Goldman Sachs Group Inc. reduced its stake in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,748 shares of the aerospace company's stock after selling 11,414 shares during the period. Goldman Sachs Group Inc. owned 0.54% of Ducommun worth $4,628,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bank of America Corp DE raised its position in Ducommun by 49.0% during the 4th quarter. Bank of America Corp DE now owns 63,120 shares of the aerospace company's stock worth $4,018,000 after purchasing an additional 20,763 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ducommun by 36.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,456 shares of the aerospace company's stock worth $1,621,000 after acquiring an additional 6,866 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Ducommun by 40.6% in the 1st quarter. GSA Capital Partners LLP now owns 24,653 shares of the aerospace company's stock worth $1,431,000 after acquiring an additional 7,123 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ducommun by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 146,133 shares of the aerospace company's stock worth $8,480,000 after acquiring an additional 3,561 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Ducommun by 76.9% in the 4th quarter. Two Sigma Investments LP now owns 73,990 shares of the aerospace company's stock worth $4,710,000 after acquiring an additional 32,156 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

DCO has been the subject of several research analyst reports. Truist Financial lifted their price objective on Ducommun from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Royal Bank Of Canada lifted their price objective on Ducommun from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Citigroup reissued a "buy" rating and issued a $101.00 price objective (up from $91.00) on shares of Ducommun in a research report on Monday, July 14th. Wall Street Zen raised Ducommun from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 10th. Finally, The Goldman Sachs Group raised their target price on Ducommun from $84.00 to $94.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Ducommun presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.50.

Ducommun Stock Down 1.9%

DCO stock traded down $1.85 during mid-day trading on Friday, reaching $94.15. 475,858 shares of the company traded hands, compared to its average volume of 112,221. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 35.80 and a beta of 1.41. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.31. Ducommun Incorporated has a fifty-two week low of $51.76 and a fifty-two week high of $96.49. The firm's 50 day moving average price is $91.02 and its 200 day moving average price is $74.94.

Ducommun (NYSE:DCO - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating 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 return on equity of 7.61% and a net margin of 5.03%.The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. As a group, equities research analysts predict that Ducommun Incorporated will post 3.21 EPS for the current fiscal year.

About Ducommun

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.