Gabelli Funds LLC Has $12.33 Million Position in Ducommun Incorporated $DCO

Gabelli Funds LLC cut its position in Ducommun Incorporated (NYSE:DCO) by 2.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,065 shares of the aerospace company’s stock after selling 2,851 shares during the quarter. Gabelli Funds LLC owned about 0.67% of Ducommun worth $12,330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Ducommun by 16.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 759 shares of the aerospace company’s stock valued at $72,000 after acquiring an additional 107 shares during the period. Envestnet Asset Management Inc. increased its position in Ducommun by 3.8% during the third quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company’s stock worth $311,000 after acquiring an additional 117 shares during the period. Ameriprise Financial Inc. raised its stake in Ducommun by 2.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company’s stock worth $657,000 after purchasing an additional 153 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Ducommun by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company’s stock worth $414,000 after purchasing an additional 155 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Ducommun by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 2,523 shares of the aerospace company’s stock valued at $240,000 after purchasing an additional 163 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ducommun

In other news, VP Jerry L. Redondo sold 5,682 shares of Ducommun stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $154.36, for a total value of $877,073.52. Following the transaction, the vice president owned 62,034 shares in the company, valued at approximately $9,575,568.24. This trade represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Laureen S. Gonzalez sold 589 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $151.99, for a total value of $89,522.11. Following the transaction, the vice president directly owned 11,172 shares of the company’s stock, valued at $1,698,032.28. This trade represents a 5.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 7,883 shares of company stock valued at $1,200,336. 5.00% of the stock is currently owned by corporate insiders.

Ducommun Stock Performance

Shares of Ducommun stock opened at $176.78 on Monday. The company has a current ratio of 3.67, a quick ratio of 2.59 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.67 billion, a PE ratio of -74.90 and a beta of 1.03. The company has a 50 day moving average of $163.60 and a 200-day moving average of $139.74. Ducommun Incorporated has a 1-year low of $84.76 and a 1-year high of $196.63.

Ducommun (NYSE:DCO) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating 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 business had revenue of $209.02 million for the quarter, compared to analysts’ expectations of $199.61 million. During the same period last year, the firm posted $0.83 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts forecast that Ducommun Incorporated will post 4.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Ducommun from $167.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada cut Ducommun from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $155.00 to $175.00 in a research note on Thursday, July 9th. Truist Financial increased their price target on Ducommun from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered Ducommun from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings raised Ducommun from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.80.

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.