LPL Financial LLC Buys New Shares in Ducommun Incorporated (NYSE:DCO)

LPL Financial LLC bought a new stake in Ducommun Incorporated (NYSE:DCO) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 87,062 shares of the aerospace company’s stock, valued at approximately $5,052,000. LPL Financial LLC owned approximately 0.59% of Ducommun at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position in shares of Ducommun by 804.2% in the 4th quarter. Sterling Capital Management LLC now owns 434 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 386 shares during the period. Virtus Fund Advisers LLC bought a new stake in shares of Ducommun during the 4th quarter worth about $78,000. Central Pacific Bank Trust Division boosted its holdings in shares of Ducommun by 200.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 1,500 shares of the aerospace company’s stock worth $87,000 after buying an additional 1,000 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Ducommun during the 4th quarter worth about $98,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Ducommun during the 4th quarter worth about $106,000. Institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank Of Canada lifted their target price on shares of Ducommun from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. The Goldman Sachs Group lifted their target price on shares of Ducommun from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Wall Street Zen upgraded shares of Ducommun from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Citigroup reiterated a “buy” rating and issued a $101.00 price objective (up previously from $91.00) on shares of Ducommun in a research note on Monday, July 14th. Finally, Truist Financial lifted their price objective on shares of Ducommun from $87.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ducommun presently has a consensus rating of “Buy” and a consensus price target of $97.50.

Ducommun Price Performance

Shares of NYSE:DCO opened at $92.47 on Thursday. The firm has a 50 day moving average of $85.01 and a 200-day moving average of $69.77. The stock has a market capitalization of $1.38 billion, a PE ratio of 35.16 and a beta of 1.38. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.31. Ducommun Incorporated has a 12 month low of $51.76 and a 12 month high of $94.00.

Ducommun (NYSE:DCO) last issued its earnings results on Thursday, August 7th. The aerospace company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.80 by $0.08. The company had revenue of $202.26 million during the quarter, compared to analysts’ expectations of $199.29 million. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. On average, equities research analysts predict that Ducommun Incorporated will post 3.21 EPS for the current fiscal year.

Ducommun Profile

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.