Hsbc Holdings PLC Boosts Stock Position in Ducommun Incorporated $DCO

Hsbc Holdings PLC grew its holdings in Ducommun Incorporated (NYSE:DCO) by 124.9% in the first quarter, Holdings Channel reports. The institutional investor owned 13,091 shares of the aerospace company’s stock after acquiring an additional 7,269 shares during the quarter. Hsbc Holdings PLC’s holdings in Ducommun were worth $1,569,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Alliancebernstein L.P. grew its stake in Ducommun by 1,993.3% in the 2nd 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 acquired a new position in Ducommun during the fourth quarter worth $26,028,000. Millennium Management LLC lifted its holdings in Ducommun by 267.3% during the fourth quarter. Millennium Management LLC now owns 116,872 shares of the aerospace company’s stock valued at $11,118,000 after purchasing an additional 85,056 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Ducommun by 79.7% during the fourth quarter. Van ECK Associates Corp now owns 186,835 shares of the aerospace company’s stock valued at $17,774,000 after purchasing an additional 82,859 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Ducommun by 839.7% in the third quarter. Two Sigma Investments LP now owns 72,740 shares of the aerospace company’s stock valued at $6,992,000 after purchasing an additional 64,999 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DCO has been the subject of a number of research reports. Wall Street Zen cut shares of Ducommun from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. B. Riley Financial raised their price target on shares of Ducommun from $155.00 to $187.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Truist Financial lifted their price objective on Ducommun from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings raised Ducommun from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada downgraded Ducommun from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $155.00 to $175.00 in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.80.

Ducommun Price Performance

Shares of NYSE DCO opened at $183.24 on Tuesday. The firm has a 50-day simple moving average of $164.36 and a 200-day simple moving average of $140.33. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -77.65 and a beta of 1.03. The company has a quick ratio of 2.59, a current ratio of 3.67 and a debt-to-equity ratio of 0.44. Ducommun Incorporated has a 52 week low of $84.76 and a 52 week high of $196.63.

Ducommun (NYSE:DCO) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The firm had revenue of $209.02 million for the quarter, compared to analyst estimates of $199.61 million. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.41%. Ducommun’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 earnings per share. On average, equities analysts predict that Ducommun Incorporated will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Ducommun

In other news, VP Laureen S. Gonzalez sold 589 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was 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 $1,698,032.28. The trade was a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Rajiv A. Tata sold 1,612 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president owned 33,171 shares of the company’s stock, valued at $4,809,795. This trade represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,883 shares of company stock worth $1,200,336. Insiders own 5.00% of the company’s stock.

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.