Teacher Retirement System of Texas Increases Stake in Ducommun Incorporated $DCO

Key Points

• Teacher Retirement System of Texas increased its stake in Ducommun by 17.2% in Q4 and now owns 72,017 shares (about 0.48% of the company) valued at roughly $6.85 million.
• Director Richard A. Baldridge sold 10,440 shares on March 10 at an average price of $130.83 (≈$1.37 million), trimming his position by 34.18%; insiders now own about 5% of the stock.
• Operational and analyst outlook: Ducommun beat quarterly EPS estimates ($1.05 vs. $0.91) with revenue up 9.4% year-over-year, and analysts hold a consensus "Moderate Buy" rating with an average price target of $144.50.

Teacher Retirement System of Texas grew its position in Ducommun Incorporated (NYSE:DCO - Free Report) by 17.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,017 shares of the aerospace company's stock after acquiring an additional 10,556 shares during the quarter. Teacher Retirement System of Texas owned about 0.48% of Ducommun worth $6,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ducommun by 16.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 759 shares of the aerospace company's stock valued at $72,000 after acquiring an additional 107 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Ducommun by 3.8% in the third quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company's stock valued at $311,000 after acquiring an additional 117 shares during the period. Ameriprise Financial Inc. increased its stake in Ducommun by 2.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company's stock worth $657,000 after buying an additional 153 shares during the period. The Manufacturers Life Insurance Company increased its stake in Ducommun by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company's stock worth $414,000 after buying an additional 155 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Ducommun by 7.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,414 shares of the aerospace company's stock worth $232,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 92.15% of the company's stock.

Insider Activity

In related news, Director Richard A. Baldridge sold 10,440 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $130.83, for a total transaction of $1,365,865.20. Following the completion of the transaction, the director owned 20,100 shares in the company, valued at $2,629,683. The trade was a 34.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.00% of the stock is currently owned by insiders.

Ducommun Price Performance

Shares of DCO stock opened at $139.66 on Monday. The stock's 50-day moving average is $129.99 and its 200 day moving average is $110.37. Ducommun Incorporated has a 1-year low of $56.21 and a 1-year high of $145.90. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.50 and a quick ratio of 2.47. The company has a market cap of $2.09 billion, a P/E ratio of -60.46 and a beta of 1.00.

Ducommun (NYSE:DCO - Get Free Report) last announced its earnings results on Thursday, February 26th. The aerospace company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.47%. The business had revenue of $215.80 million during the quarter, compared to the consensus estimate of $217.42 million. During the same period in the previous year, the company posted $0.75 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. Research analysts predict that Ducommun Incorporated will post 4.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DCO shares. Royal Bank Of Canada raised their price target on shares of Ducommun from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, March 13th. Citigroup reduced their price target on shares of Ducommun from $143.00 to $141.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ducommun in a research note on Monday, December 29th. Truist Financial raised their price target on shares of Ducommun from $124.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Finally, Wall Street Zen raised shares of Ducommun from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $144.50.

About Ducommun

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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