Palisade Capital Management LP purchased a new stake in Ducommun Incorporated (NYSE:DCO – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,333 shares of the aerospace company’s stock, valued at approximately $5,433,000. Palisade Capital Management LP owned approximately 0.19% of Ducommun at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of DCO. Allworth Financial LP acquired a new stake in Ducommun in the second quarter valued at $26,000. Optiver Holding B.V. purchased a new position in shares of Ducommun in the 1st quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its holdings in shares of Ducommun by 618.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 297 shares in the last quarter. State of Wyoming acquired a new stake in shares of Ducommun in the first quarter valued at about $35,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ducommun in the first quarter valued at about $56,000. Institutional investors and hedge funds own 92.15% of the company’s stock.
Ducommun Stock Performance
NYSE:DCO opened at $181.32 on Wednesday. The company has a current ratio of 3.36, a quick ratio of 2.38 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $181.29 and a two-hundred day moving average price of $152.12. Ducommun Incorporated has a twelve month low of $84.76 and a twelve month high of $210.39. The company has a market capitalization of $2.74 billion, a P/E ratio of -96.96 and a beta of 1.04.
Insider Buying and Selling
In related news, CEO Stephen G. Oswald sold 5,766 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $201.15, for a total value of $1,159,830.90. Following the sale, the chief executive officer owned 385,875 shares of the company’s stock, valued at approximately $77,618,756.25. This represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Laureen S. Gonzalez sold 589 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total value of $89,522.11. Following the sale, the vice president owned 11,172 shares in the company, valued at approximately $1,698,032.28. This trade represents 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 8,855 shares of company stock valued at $1,759,228. Corporate insiders own 5.00% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on DCO shares. Wall Street Zen upgraded shares of Ducommun from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Ducommun in a research note on Monday, August 10th. Truist Financial upped their price target on Ducommun from $150.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Citigroup reaffirmed a “buy” rating on shares of Ducommun in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada lifted their price objective on Ducommun from $175.00 to $200.00 and gave the stock a “sector performer” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Ducommun presently has a consensus rating of “Moderate Buy” and an average target price of $192.60.
Check Out Our Latest Stock Analysis on Ducommun
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.
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