Hsbc Holdings PLC Invests $4.05 Million in Ducommun Incorporated $DCO

Hsbc Holdings PLC bought a new stake in shares of Ducommun Incorporated (NYSE:DCO) during the second quarter, Holdings Channel.com reports. The fund bought 21,760 shares of the aerospace company’s stock, valued at approximately $4,055,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Palisade Capital Management LP bought a new position in Ducommun in the second quarter worth about $5,433,000. Canada Pension Plan Investment Board purchased a new position in shares of Ducommun during the 2nd quarter worth approximately $593,000. Legal & General Group Plc purchased a new position in shares of Ducommun during the 2nd quarter worth approximately $3,350,000. The Manufacturers Life Insurance Company bought a new position in shares of Ducommun in the 2nd quarter worth approximately $1,204,000. Finally, Paradigm Capital Management Inc. NY purchased a new position in shares of Ducommun in the 2nd quarter valued at approximately $142,704,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Insider Activity

In other news, CEO Stephen G. Oswald sold 5,766 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $201.15, for a total transaction of $1,159,830.90. Following the transaction, the chief executive officer directly owned 385,875 shares of the company’s stock, valued at $77,618,756.25. This 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. 5.00% of the stock is currently owned by insiders.

Ducommun Price Performance

Shares of DCO opened at $175.42 on Friday. 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 $2.65 billion, a P/E ratio of -93.81 and a beta of 1.04. The firm has a 50 day moving average of $182.33 and a 200 day moving average of $153.18. The company has a quick ratio of 2.38, a current ratio of 3.36 and a debt-to-equity ratio of 0.39.

Ducommun (NYSE:DCO) last released its quarterly earnings data on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.20. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.The business 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 firm posted $0.88 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts anticipate that Ducommun Incorporated will post 4.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DCO shares. Zacks Research upgraded Ducommun from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Citigroup reiterated a “buy” rating on shares of Ducommun in a report on Wednesday, August 12th. Royal Bank Of Canada raised their price objective on Ducommun from $175.00 to $200.00 and gave the company a “sector performer” rating in a research report on Friday, August 7th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ducommun in a research report on Monday, August 10th. Finally, Truist Financial increased their price target on shares of Ducommun from $150.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. One research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.60.

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.