Ducommun (NYSE:DCO) VP Jerry Redondo Sells 5,682 Shares

Ducommun Incorporated (NYSE:DCO) VP Jerry Redondo sold 5,682 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $154.36, for a total transaction of $877,073.52. Following the transaction, the vice president owned 62,034 shares of the company’s stock, valued at $9,575,568.24. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ducommun Stock Down 5.0%

DCO opened at $144.07 on Friday. The company has a fifty day moving average price of $134.13 and a 200-day moving average price of $114.62. The firm has a market capitalization of $2.17 billion, a P/E ratio of -61.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.67 and a quick ratio of 2.47. Ducommun Incorporated has a one year low of $66.24 and a one year high of $156.32.

Ducommun (NYSE:DCO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.41%. The company had revenue of $209.02 million during the quarter, compared to the consensus estimate of $199.61 million. During the same period in the previous year, the firm posted $0.83 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that Ducommun Incorporated will post 4.16 earnings per share for the current fiscal year.

Institutional Trading of Ducommun

Several hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its position in shares of Ducommun by 1,993.3% in the second quarter. Alliancebernstein L.P. now owns 302,969 shares of the aerospace company’s stock valued at $25,034,000 after acquiring an additional 288,496 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of Ducommun in the fourth quarter valued at about $26,028,000. Aberdeen Group plc purchased a new position in shares of Ducommun in the third quarter valued at about $19,035,000. Thornburg Investment Management Inc. purchased a new position in shares of Ducommun in the third quarter valued at about $12,953,000. Finally, Millennium Management LLC increased its position in shares of Ducommun by 267.3% in the fourth quarter. Millennium Management LLC now owns 116,872 shares of the aerospace company’s stock valued at $11,118,000 after acquiring an additional 85,056 shares during the period. 92.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DCO has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price objective on shares of Ducommun from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Ducommun from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Monday, April 20th. B. Riley Financial lifted their price objective on shares of Ducommun from $155.00 to $187.00 and gave the stock a “buy” rating in a report on Wednesday. Wall Street Zen downgraded shares of Ducommun from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Truist Financial raised shares of Ducommun to a “strong-buy” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Ducommun has a consensus rating of “Moderate Buy” and a consensus price target of $154.00.

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.