Gabelli Funds LLC Raises Position in Ducommun Incorporated $DCO

Key Points

• Gabelli Funds LLC increased its stake in Ducommun Incorporated by 18.8%, owning approximately 0.69% of the company worth $5,941,000 after acquiring an additional 16,235 shares in the first quarter.
• Ducommun reported a $0.88 earnings per share for the latest quarter, surpassing the consensus estimate of $0.80, while revenue grew by 2.7% year-over-year to $202.26 million.
• Analysts have a consensus price target of $97.50 for Ducommun with several firms upgrading their ratings, including a boost from Royal Bank Of Canada from $95.00 to $100.00.

Gabelli Funds LLC lifted its holdings in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 102,374 shares of the aerospace company's stock after purchasing an additional 16,235 shares during the period. Gabelli Funds LLC owned about 0.69% of Ducommun worth $5,941,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Ducommun by 49.0% in the 4th quarter. Bank of America Corp DE now owns 63,120 shares of the aerospace company's stock worth $4,018,000 after acquiring an additional 20,763 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 during the last quarter. GSA Capital Partners LLP grew its holdings in 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 during the last quarter. Finally, Two Sigma Investments LP grew its holdings in 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 during the last quarter. Institutional investors own 92.15% of the company's stock.

Ducommun Stock Down 0.6%

NYSE DCO traded down $0.56 during trading hours on Wednesday, reaching $90.39. 17,747 shares of the company's stock traded hands, compared to its average volume of 99,803. Ducommun Incorporated has a 52-week low of $51.76 and a 52-week high of $95.93. The firm has a market cap of $1.35 billion, a PE ratio of 34.35 and a beta of 1.41. The firm has a 50-day simple moving average of $88.90 and a 200 day simple moving average of $72.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.17.

Ducommun (NYSE:DCO - Get Free Report) last issued 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. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The company had revenue of $202.26 million during the quarter, compared to analysts' expectations of $199.29 million. During the same period last year, the company posted $0.52 EPS. Ducommun's revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that Ducommun Incorporated will post 3.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DCO. Zacks Research raised shares of Ducommun to a "hold" rating in a report on Monday, August 11th. Wall Street Zen raised shares of Ducommun from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 10th. The Goldman Sachs Group boosted their price target on shares of Ducommun from $84.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Truist Financial increased their price target on shares of Ducommun from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Royal Bank Of Canada increased their price target on shares of Ducommun from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $97.50.

Ducommun Profile

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.