Royal Bank of Canada Cuts Holdings in Ducommun Incorporated $DCO

Royal Bank of Canada trimmed its position in Ducommun Incorporated (NYSE:DCO) by 67.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,256 shares of the aerospace company’s stock after selling 45,341 shares during the quarter. Royal Bank of Canada owned about 0.15% of Ducommun worth $2,715,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DCO. State of Wyoming purchased a new position in Ducommun during the 1st quarter valued at approximately $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 297 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Ducommun during the 1st quarter valued at approximately $56,000. KBC Group NV bought a new position in shares of Ducommun during the 1st quarter valued at approximately $71,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Ducommun in the fourth quarter valued at $95,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citigroup reaffirmed a “buy” rating on shares of Ducommun in a research note on Wednesday. Wall Street Zen raised shares of Ducommun from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada boosted their target price on shares of Ducommun from $175.00 to $200.00 and gave the stock a “sector performer” rating in a report on Friday, August 7th. Truist Financial upped their target price on shares of Ducommun from $150.00 to $209.00 and gave the company a “buy” rating in a research report on Thursday. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Ducommun in a report on Friday, August 7th. One research 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 stock. According to data from MarketBeat, Ducommun has an average rating of “Moderate Buy” and a consensus target price of $192.60.

Insider Transactions at Ducommun

In related news, VP Laureen S. Gonzalez sold 589 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $151.99, for a total transaction of $89,522.11. Following the transaction, the vice president directly owned 11,172 shares in the company, valued at approximately $1,698,032.28. This represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Rajiv A. Tata sold 1,612 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $145.00, for a total transaction of $233,740.00. Following the completion of the sale, the vice president directly owned 33,171 shares in the company, valued at $4,809,795. This trade represents a 4.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 7,967 shares of company stock worth $1,483,093. 5.00% of the stock is currently owned by insiders.

Ducommun Stock Performance

NYSE:DCO opened at $206.54 on Monday. The stock’s fifty day moving average is $176.57 and its 200 day moving average is $148.23. Ducommun Incorporated has a fifty-two week low of $84.76 and a fifty-two week high of $210.39. The firm has a market capitalization of $3.12 billion, a PE ratio of -110.45 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.38 and a current ratio of 3.36.

Ducommun (NYSE:DCO) last issued its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $214.32 million. During the same period last year, the company earned $0.88 earnings per share. Ducommun’s revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts anticipate that Ducommun Incorporated will post 4.26 earnings per share 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.