Allspring Global Investments Holdings LLC Decreases Stake in Ducommun Incorporated $DCO

Allspring Global Investments Holdings LLC decreased its stake in Ducommun Incorporated (NYSE:DCO) by 20.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,150 shares of the aerospace company’s stock after selling 10,212 shares during the period. Allspring Global Investments Holdings LLC owned 0.26% of Ducommun worth $4,776,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Calamos Advisors LLC purchased a new position in Ducommun during the first quarter worth about $960,000. Hsbc Holdings PLC increased its position in shares of Ducommun by 124.9% during the 1st quarter. Hsbc Holdings PLC now owns 13,091 shares of the aerospace company’s stock valued at $1,569,000 after purchasing an additional 7,269 shares during the last quarter. Granite Investment Partners LLC purchased a new position in shares of Ducommun during the 1st quarter valued at about $216,000. Keybank National Association OH purchased a new position in shares of Ducommun during the 1st quarter valued at about $254,000. Finally, Pictet Asset Management Holding SA bought a new stake in Ducommun in the 1st quarter worth approximately $313,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Truist Financial increased their target price on shares of Ducommun from $136.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. The Goldman Sachs Group upped their price target on shares of Ducommun from $134.00 to $151.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Royal Bank Of Canada downgraded Ducommun from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $155.00 to $175.00 in a report on Thursday, July 9th. B. Riley Financial raised their target price on shares of Ducommun from $155.00 to $187.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Citigroup lifted their target price on shares of Ducommun from $167.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.80.

Insider Buying and Selling

In related news, VP Rajiv A. Tata sold 1,612 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $145.00, for a total value of $233,740.00. Following the sale, the vice president owned 33,171 shares in the company, valued at approximately $4,809,795. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Laureen S. Gonzalez sold 589 shares of the 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 completion of the transaction, the vice president directly owned 11,172 shares of the company’s stock, valued at approximately $1,698,032.28. The trade was a 5.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 7,883 shares of company stock worth $1,200,336. Corporate insiders own 5.00% of the company’s stock.

Ducommun Stock Performance

Shares of NYSE DCO opened at $176.78 on Friday. The stock has a market cap of $2.67 billion, a PE ratio of -74.90 and a beta of 1.03. Ducommun Incorporated has a 1 year low of $84.76 and a 1 year high of $196.63. The firm has a fifty day moving average price of $163.60 and a 200-day moving average price of $139.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.67 and a quick ratio of 2.59.

Ducommun (NYSE:DCO) last issued its earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $0.83 EPS. Ducommun’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Ducommun Incorporated will post 4.07 earnings per share for the current fiscal year.

Ducommun 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.