Hsbc Holdings PLC Boosts Position in Ducommun Incorporated $DCO

Key Points

• HSBC increased its Ducommun stake by 66.2% in the second quarter, bringing its holdings to 21,760 shares valued at approximately $4.1 million. Institutional investors and hedge funds collectively own 92.15% of the company.
• Analysts maintain a generally positive outlook, with Ducommun receiving a “Moderate Buy” consensus rating and an average price target of $192.60. Citigroup and Goldman Sachs reiterated “Buy” ratings, while RBC raised its target to $200.
• Ducommun reported quarterly EPS of $1.18, exceeding estimates of $0.98, while revenue rose 11% year over year to $224.49 million. The stock opened at $166.84, below its 52-week high of $210.39.

Hsbc Holdings PLC increased its holdings in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 66.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,760 shares of the aerospace company's stock after purchasing an additional 8,669 shares during the period. Hsbc Holdings PLC owned 0.14% of Ducommun worth $4,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in shares of Ducommun by 14.5% in the 1st quarter. AQR Capital Management LLC now owns 83,479 shares of the aerospace company's stock valued at $4,844,000 after purchasing an additional 10,574 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ducommun by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,050 shares of the aerospace company's stock valued at $467,000 after buying an additional 319 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Ducommun by 618.8% during the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company's stock worth $29,000 after buying an additional 297 shares in the last quarter. First Trust Advisors LP grew its position in shares of Ducommun by 10.0% during the second quarter. First Trust Advisors LP now owns 5,809 shares of the aerospace company's stock worth $480,000 after buying an additional 528 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Ducommun by 7.9% in the second quarter. Marshall Wace LLP now owns 71,545 shares of the aerospace company's stock worth $5,912,000 after buying an additional 5,212 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ducommun news, CEO Stephen Oswald sold 5,766 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $201.15, for a total transaction of $1,159,830.90. Following the transaction, the chief executive officer directly owned 385,875 shares in the company, valued at $77,618,756.25. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup reissued a "buy" rating on shares of Ducommun in a research report on Wednesday, August 12th. Wall Street Zen raised shares of Ducommun from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Ducommun from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 1st. Royal Bank Of Canada upped their price objective on Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Ducommun in a research report on Monday, August 10th. 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 company's stock. Based on data from MarketBeat, Ducommun presently has an average rating of "Moderate Buy" and an average price target of $192.60.

Ducommun Trading Up 0.3%

Ducommun stock opened at $166.84 on Friday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -89.22 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 firm's 50 day moving average price is $180.81 and its two-hundred day moving average price is $156.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.38 and a current ratio of 3.36.

Ducommun (NYSE:DCO - Get Free Report) last released its earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. The company had revenue of $224.49 million during the quarter, compared to analyst estimates of $214.32 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.The company's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, research analysts predict that Ducommun Incorporated will post 4.26 EPS for the current fiscal 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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