Royce & Associates LP Reduces Stock Holdings in Ducommun Incorporated $DCO

Key Points

• Royce & Associates LP cut its Ducommun stake by 20.5% in the fourth quarter, selling 26,190 shares and ending with 101,581 shares valued at about $9.66 million.
• Ducommun has continued to attract bullish analyst coverage, with several firms raising price targets and an overall “Moderate Buy” consensus; the average target price is $162.
• Insiders have recently been selling shares, including VP Rajiv A. Tata and Director Richard A. Baldridge, while Ducommun also reported strong quarterly results that beat EPS and revenue estimates.

Royce & Associates LP reduced its stake in Ducommun Incorporated (NYSE:DCO - Free Report) by 20.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,581 shares of the aerospace company's stock after selling 26,190 shares during the period. Royce & Associates LP owned 0.68% of Ducommun worth $9,663,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DCO. Cornerstone Planning Group LLC increased its stake in Ducommun by 6,725.0% in the third quarter. Cornerstone Planning Group LLC now owns 273 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 269 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Ducommun by 618.8% in the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 297 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Ducommun in the third quarter valued at approximately $63,000. Danske Bank A S acquired a new position in Ducommun during the fourth quarter worth approximately $111,000. Finally, State of Wyoming acquired a new position in Ducommun during the third quarter worth approximately $135,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Ducommun from $134.00 to $151.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. B. Riley Financial raised their target price on shares of Ducommun from $155.00 to $187.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Ducommun from a "buy" rating to a "hold" rating in a research report on Monday. Citigroup raised their target price on shares of Ducommun from $141.00 to $167.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Finally, Truist Financial raised their target price on shares of Ducommun from $136.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday. Five analysts have rated the stock with 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 target price of $162.00.

Insiders Place Their Bets

In other Ducommun news, VP Rajiv A. Tata sold 1,612 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $145.00, for a total transaction of $233,740.00. Following the sale, the vice president directly owned 33,171 shares in the company, valued at approximately $4,809,795. The trade was a 4.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard A. Baldridge sold 10,440 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $130.83, for a total transaction of $1,365,865.20. Following the sale, the director owned 20,100 shares in the company, valued at $2,629,683. The trade was a 34.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 17,734 shares of company stock worth $2,476,679. Corporate insiders own 5.00% of the company's stock.

Ducommun Stock Performance

NYSE:DCO opened at $152.88 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.67 and a quick ratio of 2.59. Ducommun Incorporated has a 1-year low of $68.76 and a 1-year high of $156.32. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -64.78 and a beta of 1.06. The firm's fifty day moving average price is $137.31 and its 200 day moving average price is $118.21.

Ducommun (NYSE:DCO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.07. Ducommun had a positive return on equity of 8.41% and a negative net margin of 4.11%.The firm had revenue of $209.02 million for the quarter, compared to the consensus estimate of $199.61 million. During the same period in the previous year, the business earned $0.83 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts expect that Ducommun Incorporated will post 4.07 EPS for the current 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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