Raymond James Financial Inc. Trims Stock Holdings in Ducommun Incorporated $DCO

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. lowered its stake in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 5.3% during the 1st quarter, according to the company in 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 0.67% of Ducommun worth $5,815,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. First Trust Advisors LP increased its position in shares of Ducommun by 25.4% during the fourth quarter. First Trust Advisors LP now owns 4,730 shares of the aerospace company's stock valued at $301,000 after buying an additional 958 shares during the period. Hsbc Holdings PLC increased its holdings in Ducommun by 53.9% during the 4th quarter. Hsbc Holdings PLC now owns 7,021 shares of the aerospace company's stock worth $446,000 after acquiring an additional 2,460 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Ducommun by 19.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,297 shares of the aerospace company's stock worth $338,000 after purchasing an additional 846 shares in the last quarter. Northern Trust Corp lifted its stake in Ducommun by 5.4% in the 4th quarter. Northern Trust Corp now owns 130,177 shares of the aerospace company's stock worth $8,287,000 after purchasing an additional 6,649 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Ducommun by 189.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,656 shares of the aerospace company's stock valued at $1,251,000 after purchasing an additional 12,871 shares during the period. Institutional investors own 92.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DCO shares. Zacks Research raised shares of Ducommun to a "hold" rating in a report on Monday, August 11th. Citigroup restated a "buy" rating and issued a $101.00 target price (up from $91.00) on shares of Ducommun in a research note on Monday, July 14th. Wall Street Zen raised Ducommun from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 10th. Truist Financial lifted their price target on Ducommun from $87.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, The Goldman Sachs Group upped their price objective on shares of Ducommun from $84.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.50.

Ducommun Price Performance

Shares of Ducommun stock opened at $90.11 on Thursday. The firm has a market capitalization of $1.34 billion, a PE ratio of 34.26 and a beta of 1.41. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.31. Ducommun Incorporated has a 12 month low of $51.76 and a 12 month high of $95.93. The business's 50-day moving average price is $89.06 and its 200-day moving average price is $72.29.

Ducommun (NYSE:DCO - Get Free Report) last released its earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.08. Ducommun had a return on equity of 7.61% and a net margin of 5.03%.The company had revenue of $202.26 million during the quarter, compared to the consensus estimate of $199.29 million. During the same quarter in the previous year, the company posted $0.52 EPS. Ducommun's quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Ducommun Incorporated will post 3.21 EPS for the current fiscal year.

Ducommun Company 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.

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