Legal & General Group Plc Purchases Shares of 18,085 Ducommun Incorporated $DCO

Key Points

• Legal & General Group Plc acquired 18,085 Ducommun shares worth approximately $3.35 million, representing about 0.12% of the aerospace company. Institutional investors collectively own 92.15% of DCO.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $192.60; Truist and RBC recently raised their targets to $209 and $200, respectively.
• Ducommun’s latest quarter exceeded expectations, with EPS of $1.18 versus the $0.98 estimate and revenue of $224.49 million, up 11% year over year. Shares opened at $167.93, below the 12-month high of $210.39.

Legal & General Group Plc acquired a new position in Ducommun Incorporated (NYSE:DCO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,085 shares of the aerospace company's stock, valued at approximately $3,350,000. Legal & General Group Plc owned about 0.12% of Ducommun at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Parvin Asset Management LLC increased its stake in Ducommun by 8.9% in the 1st quarter. Parvin Asset Management LLC now owns 1,340 shares of the aerospace company's stock worth $163,000 after buying an additional 110 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Ducommun by 3.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company's stock worth $311,000 after buying an additional 117 shares in the last quarter. Allworth Financial LP bought a new position in shares of Ducommun during the 2nd quarter valued at approximately $26,000. Ameriprise Financial Inc. boosted its stake in shares of Ducommun by 2.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company's stock worth $657,000 after purchasing an additional 153 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Ducommun by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company's stock valued at $414,000 after acquiring an additional 155 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Ducommun from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Truist Financial lifted their price target on Ducommun from $150.00 to $209.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Citigroup restated a "buy" rating on shares of Ducommun in a research note on Wednesday, August 12th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Ducommun in a research report on Monday, August 10th. Finally, Royal Bank Of Canada lifted their target price on Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.60.

Ducommun Trading Up 0.8%

Shares of DCO opened at $167.93 on Friday. The firm has a 50-day moving average price of $182.32 and a 200 day moving average price of $154.79. Ducommun Incorporated has a 12-month low of $84.76 and a 12-month high of $210.39. The company has a current ratio of 3.36, a quick ratio of 2.38 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $2.54 billion, a P/E ratio of -89.80 and a beta of 1.04.

Ducommun (NYSE:DCO - Get Free Report) last released its quarterly 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. Ducommun had a negative net margin of 3.10% and a positive return on equity of 9.20%. The business had revenue of $224.49 million for the quarter, compared to the consensus estimate of $214.32 million. During the same period in the previous year, the firm earned $0.88 EPS. The business's revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Ducommun Incorporated will post 4.26 EPS for the current year.

Insider Transactions at Ducommun

In other Ducommun news, CEO Stephen Oswald sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $203.95, for a total value of $509,875.00. Following the completion of the transaction, the chief executive officer owned 383,864 shares of the company's stock, valued at $78,289,062.80. This trade represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.00% of the stock is currently owned by company insiders.

Ducommun 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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