Moore Capital Management LP Purchases Shares of 238,844 Ducommun Incorporated $DCO

Moore Capital Management LP acquired a new position in shares of Ducommun Incorporated (NYSE:DCO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 238,844 shares of the aerospace company’s stock, valued at approximately $44,236,000. Ducommun comprises approximately 0.7% of Moore Capital Management LP’s holdings, making the stock its 24th largest position.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Ducommun by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company’s stock valued at $80,134,000 after acquiring an additional 19,143 shares in the last quarter. Meros Investment Management LP boosted its stake in Ducommun by 4.8% during the 4th quarter. Meros Investment Management LP now owns 174,485 shares of the aerospace company’s stock valued at $16,599,000 after purchasing an additional 7,945 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Ducommun by 124.9% during the 1st quarter. Hsbc Holdings PLC now owns 13,091 shares of the aerospace company’s stock worth $1,569,000 after purchasing an additional 7,269 shares in the last quarter. Calamos Advisors LLC bought a new stake in Ducommun during the 1st quarter worth approximately $960,000. Finally, SG Americas Securities LLC raised its stake in shares of Ducommun by 95.9% in the first quarter. SG Americas Securities LLC now owns 60,333 shares of the aerospace company’s stock worth $7,361,000 after purchasing an additional 29,534 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada raised their target price on Ducommun from $175.00 to $200.00 and gave the company a “sector performer” rating in a report on Friday, August 7th. Zacks Research upgraded Ducommun from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Truist Financial increased their price target on Ducommun from $150.00 to $209.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. The Goldman Sachs Group restated a “buy” rating on shares of Ducommun in a research note on Monday, August 10th. Finally, Citigroup reaffirmed a “buy” rating on shares of Ducommun in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.60.

Insider Buying and Selling at Ducommun

In related news, CEO Stephen G. Oswald sold 5,766 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $201.15, for a total value of $1,159,830.90. Following the sale, the chief executive officer directly owned 385,875 shares of the company’s stock, valued at $77,618,756.25. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.00% of the company’s stock.

Ducommun Trading Down 0.5%

NYSE:DCO opened at $175.42 on Monday. The stock has a market capitalization of $2.65 billion, a PE ratio of -93.81 and a beta of 1.04. The firm’s 50 day moving average is $182.33 and its 200 day moving average is $153.40. The company has a current ratio of 3.36, a quick ratio of 2.38 and a debt-to-equity ratio of 0.39. Ducommun Incorporated has a 12 month low of $84.76 and a 12 month high of $210.39.

Ducommun (NYSE:DCO) last announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. Ducommun had a negative net margin of 3.10% and a positive return on equity of 9.20%. The company had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $214.32 million. During the same period in the prior year, the company posted $0.88 EPS. Ducommun’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Ducommun Incorporated will post 4.26 earnings per share for the current year.

About Ducommun

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.