Ducommun Incorporated $DCO Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in Ducommun Incorporated by 5.3%, owning 100,213 shares valued at about $5.8 million after selling 5,619 shares.
• Institutional investors collectively hold 92.15% of Ducommun's stock, indicating a strong institutional interest in the company.
• Research analysts project a consensus price target of $97.50 for Ducommun, with several firms upgrading their ratings, reflecting positive sentiment regarding the company’s growth prospects.

Raymond James Financial Inc. cut its stake in Ducommun Incorporated (NYSE:DCO - Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,213 shares of the aerospace company's stock after selling 5,619 shares during the period. Raymond James Financial Inc. owned approximately 0.67% of Ducommun worth $5,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in DCO. Virtus Fund Advisers LLC purchased a new stake in shares of Ducommun in the fourth quarter valued at approximately $78,000. Central Pacific Bank Trust Division lifted its holdings in Ducommun by 200.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,500 shares of the aerospace company's stock valued at $87,000 after acquiring an additional 1,000 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Ducommun in the fourth quarter valued at approximately $106,000. Ameriprise Financial Inc. acquired a new position in Ducommun in the fourth quarter valued at approximately $213,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Ducommun in the fourth quarter valued at approximately $217,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup reiterated a "buy" rating and issued a $101.00 price objective (up from $91.00) on shares of Ducommun in a report on Monday, July 14th. Truist Financial upped their price target on Ducommun from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen upgraded Ducommun from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 10th. The Goldman Sachs Group lifted their target price on Ducommun from $84.00 to $94.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, Royal Bank Of Canada lifted their target price on Ducommun from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Ducommun presently has an average rating of "Moderate Buy" and an average price target of $97.50.

Ducommun Stock Down 2.0%

NYSE DCO traded down $1.87 during trading on Tuesday, reaching $89.49. 18,987 shares of the company's stock were exchanged, compared to its average volume of 99,497. The stock has a market cap of $1.34 billion, a P/E ratio of 34.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.17 and a current ratio of 3.24. The company has a 50 day moving average price of $89.45 and a two-hundred day moving average price of $73.03. Ducommun Incorporated has a 1 year low of $51.76 and a 1 year high of $95.93.

Ducommun (NYSE:DCO - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.08. The company had revenue of $202.26 million for the quarter, compared to analyst estimates of $199.29 million. Ducommun had a return on equity of 7.61% and a net margin of 5.03%.The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. On average, equities research analysts anticipate 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.