Key Points
- Ducommun VP Jerry Redondo sold 5,682 shares on May 14 at an average price of $154.36, totaling about $877,074. The company said the sale was to cover tax withholding tied to vested equity awards.
- Despite the insider sale, Ducommun recently beat earnings and revenue expectations, reporting EPS of $0.75 versus the $0.68 estimate and revenue of $209.02 million, up 7.7% year over year.
- Wall Street sentiment remains constructive, with multiple analysts raising price targets and the stock carrying an average rating of “Moderate Buy” and a consensus target price of $154.00.
Ducommun Incorporated (NYSE:DCO - Get Free Report) VP Jerry Redondo sold 5,682 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $154.36, for a total transaction of $877,073.52. Following the completion of the transaction, the vice president owned 62,034 shares in the company, valued at $9,575,568.24. The trade was a 8.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ducommun Price Performance
DCO stock opened at $144.07 on Friday. The firm's 50-day moving average price is $134.13 and its two-hundred day moving average price is $114.62. Ducommun Incorporated has a 12-month low of $66.24 and a 12-month high of $156.32. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -61.05 and a beta of 1.06. The company has a current ratio of 3.67, a quick ratio of 2.47 and a debt-to-equity ratio of 0.44.
Ducommun (NYSE:DCO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $199.61 million. During the same quarter in the previous year, the company earned $0.83 earnings per share. Ducommun's quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts predict that Ducommun Incorporated will post 4.16 earnings per share for the current year.
Wall Street Analysts Forecast Growth
DCO has been the subject of a number of research reports. Royal Bank Of Canada increased their price target on shares of Ducommun from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday. B. Riley Financial increased their price target on shares of Ducommun from $155.00 to $187.00 and gave the stock a "buy" rating in a research note on Wednesday. The Goldman Sachs Group increased their price target on shares of Ducommun from $134.00 to $151.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Citigroup decreased their price target on shares of Ducommun from $143.00 to $141.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Finally, Truist Financial raised shares of Ducommun to a "strong-buy" rating in a research note on Friday, May 1st. One 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 stock. Based on data from MarketBeat, Ducommun presently has an average rating of "Moderate Buy" and an average target price of $154.00.
View Our Latest Research Report on Ducommun
Institutional Investors Weigh In On Ducommun
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Ducommun by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company's stock worth $80,134,000 after purchasing an additional 19,143 shares during the period. State Street Corp grew its holdings in Ducommun by 10.4% in the fourth quarter. State Street Corp now owns 670,966 shares of the aerospace company's stock worth $63,829,000 after purchasing an additional 63,070 shares during the period. Geode Capital Management LLC grew its holdings in Ducommun by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 333,371 shares of the aerospace company's stock worth $31,720,000 after purchasing an additional 5,899 shares during the period. GW&K Investment Management LLC grew its holdings in Ducommun by 2.0% in the fourth quarter. GW&K Investment Management LLC now owns 319,772 shares of the aerospace company's stock worth $30,420,000 after purchasing an additional 6,192 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Ducommun by 5.4% during the 3rd quarter. Alliancebernstein L.P. now owns 319,470 shares of the aerospace company's stock valued at $30,711,000 after purchasing an additional 16,501 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company's stock.
Ducommun Company Profile
(
Get Free Report)
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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