First Trust Advisors LP Sells 11,369 Shares of Ducommun Incorporated $DCO

Key Points

• First Trust Advisors cut its Ducommun position by 27% in the first quarter, selling 11,369 shares and retaining 30,714 shares valued at approximately $3.75 million. Institutional investors collectively own 92.15% of DCO.
• Analysts remain broadly positive, with four Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $175.80. Recent target increases included Truist to $150, Goldman Sachs to $151, and B. Riley to $187.
• Ducommun reported quarterly EPS of $0.75, exceeding estimates by $0.07, while revenue rose 7.7% year over year to $209.02 million. Shares opened at $192.28, near the company’s 12-month high of $196.80, while insiders sold 7,883 shares worth about $1.2 million over 90 days.

First Trust Advisors LP lowered its position in Ducommun Incorporated (NYSE:DCO - Free Report) by 27.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,714 shares of the aerospace company's stock after selling 11,369 shares during the period. First Trust Advisors LP owned 0.20% of Ducommun worth $3,747,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Ducommun by 618.8% in the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company's stock worth $29,000 after acquiring an additional 297 shares in the last quarter. KBC Group NV bought a new position in shares of Ducommun during the 1st quarter valued at $71,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ducommun by 16.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 759 shares of the aerospace company's stock valued at $72,000 after purchasing an additional 107 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in Ducommun in the fourth quarter worth $95,000. Finally, Danske Bank A S acquired a new position in Ducommun during the fourth quarter worth $111,000. Institutional investors own 92.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen lowered Ducommun from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Truist Financial increased their price objective on Ducommun from $136.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. The Goldman Sachs Group boosted their target price on Ducommun from $134.00 to $151.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Weiss Ratings upgraded Ducommun from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 21st. Finally, B. Riley Financial lifted their price target on shares of Ducommun from $155.00 to $187.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Ducommun presently has an average rating of "Moderate Buy" and an average price target of $175.80.

Ducommun Stock Up 0.2%

Shares of DCO stock opened at $192.28 on Thursday. Ducommun Incorporated has a 12 month low of $84.76 and a 12 month high of $196.80. The company has a quick ratio of 2.59, a current ratio of 3.67 and a debt-to-equity ratio of 0.44. The firm has a market cap of $2.90 billion, a PE ratio of -81.48 and a beta of 1.04. The stock has a 50 day moving average of $169.62 and a 200-day moving average of $143.99.

Ducommun (NYSE:DCO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. The business had revenue of $209.02 million for the quarter, compared to the consensus estimate of $199.61 million. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.41%. Ducommun's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share. On average, equities analysts predict that Ducommun Incorporated will post 4.07 EPS for the current year.

Insider Activity at Ducommun

In related news, VP Rajiv A. Tata sold 1,612 shares of Ducommun stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $145.00, for a total transaction of $233,740.00. Following the sale, the vice president directly owned 33,171 shares of the company's stock, valued at $4,809,795. This trade represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jerry L. Redondo sold 5,682 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $154.36, for a total value of $877,073.52. Following the transaction, the vice president owned 62,034 shares in the company, valued at $9,575,568.24. This represents a 8.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 7,883 shares of company stock worth $1,200,336. Company insiders own 5.00% of the company's stock.

About Ducommun

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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