Wellington Management Group LLP Has $9.01 Million Stock Position in Ducommun Incorporated $DCO

Key Points

• Wellington Management reduced its Ducommun stake by 30.3% in the second quarter, selling 21,188 shares and retaining 48,639 shares worth approximately $9.01 million. Institutional investors collectively own 92.15% of the aerospace company.
• Ducommun reported stronger-than-expected quarterly results, with EPS of $1.18 versus a $0.98 consensus estimate and revenue of $224.49 million, up 11% year over year.
• Analysts maintain a generally positive outlook: the stock has a “Moderate Buy” consensus rating and an average price target of $192.60, while CEO Stephen Oswald sold shares worth about $1.16 million.

Wellington Management Group LLP lowered its holdings in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 30.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,639 shares of the aerospace company's stock after selling 21,188 shares during the quarter. Wellington Management Group LLP owned about 0.32% of Ducommun worth $9,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new position in Ducommun during the second quarter worth $359,395,000. Vanguard Group Inc. raised its holdings in Ducommun by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company's stock valued at $80,134,000 after buying an additional 19,143 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in shares of Ducommun in the second quarter worth about $142,704,000. State Street Corp lifted its position in shares of Ducommun by 10.4% in the fourth quarter. State Street Corp now owns 670,966 shares of the aerospace company's stock worth $63,829,000 after buying an additional 63,070 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Ducommun by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 333,371 shares of the aerospace company's stock worth $31,720,000 after acquiring an additional 5,899 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Insider Transactions at Ducommun

In related 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 transaction of $1,159,830.90. Following the completion of the transaction, the chief executive officer directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.00% of the company's stock.

Ducommun Price Performance

Shares of NYSE:DCO opened at $168.04 on Wednesday. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -89.86 and a beta of 1.04. The business has a 50 day moving average price of $181.67 and a 200 day moving average price of $155.62. 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.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on DCO shares. B. Riley Financial reissued a "buy" rating on shares of Ducommun in a report on Friday, August 7th. Truist Financial boosted their target price on Ducommun from $150.00 to $209.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Ducommun in a research report on Monday, August 10th. Royal Bank Of Canada increased their price target on Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a report on Friday, August 7th. Finally, Wall Street Zen raised shares of Ducommun from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $192.60.

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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