The Manufacturers Life Insurance Company Invests $1.20 Million in Ducommun Incorporated $DCO

Key Points

• The Manufacturers Life Insurance Company acquired 6,501 Ducommun shares worth approximately $1.20 million in the second quarter. Institutional investors and hedge funds collectively own 92.15% of the aerospace company.
• Analyst sentiment remains positive, with Ducommun receiving an average “Moderate Buy” rating and a consensus price target of $192.60. Truist raised its target to $209, while RBC increased its target to $200.
• Ducommun reported quarterly EPS of $1.18, beating estimates of $0.98, while revenue reached $224.49 million and rose 11% year over year. The stock recently opened at $167.93, below its 12-month high of $210.39.

The Manufacturers Life Insurance Company bought a new position in shares of Ducommun Incorporated (NYSE:DCO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,501 shares of the aerospace company's stock, valued at approximately $1,204,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in shares of Ducommun during the second quarter worth $26,000. Optiver Holding B.V. bought a new position in Ducommun during the 1st quarter worth $27,000. EverSource Wealth Advisors LLC lifted its holdings in Ducommun by 618.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company's stock worth $29,000 after buying an additional 297 shares during the period. State of Wyoming bought a new stake in shares of Ducommun in the 1st quarter valued at about $35,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ducommun in the first quarter valued at about $56,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ducommun

In other news, CEO Stephen Oswald sold 5,766 shares of the company's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $201.15, for a total value of $1,159,830.90. Following the completion of the sale, the chief executive officer owned 385,875 shares in the company, valued at $77,618,756.25. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DCO has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price objective on shares of Ducommun from $175.00 to $200.00 and gave the stock a "sector performer" rating in a research report on Friday, August 7th. Weiss Ratings upgraded Ducommun from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. Citigroup restated a "buy" rating on shares of Ducommun in a research note on Wednesday, August 12th. B. Riley Financial reaffirmed a "buy" rating on shares of Ducommun in a research note on Friday, August 7th. Finally, Truist Financial lifted their price objective on shares of Ducommun from $150.00 to $209.00 and gave the company a "buy" rating in a report on Thursday, August 13th. 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, Ducommun presently has an average rating of "Moderate Buy" and an average price target of $192.60.

Ducommun Stock Up 0.8%

DCO stock opened at $167.93 on Friday. The firm has a market capitalization of $2.54 billion, a PE ratio of -89.80 and a beta of 1.04. The company has a quick ratio of 2.38, a current ratio of 3.36 and a debt-to-equity ratio of 0.39. Ducommun Incorporated has a twelve month low of $84.76 and a twelve month high of $210.39. The stock's 50 day moving average is $182.32 and its 200-day moving average is $154.79.

Ducommun (NYSE:DCO - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. The business had revenue of $224.49 million during the quarter, compared to the consensus estimate of $214.32 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.Ducommun's revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. Sell-side analysts expect that Ducommun Incorporated will post 4.26 EPS for the current fiscal 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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