Renaissance Technologies LLC Lowers Position in Ducommun Incorporated $DCO

Renaissance Technologies LLC lessened its stake in Ducommun Incorporated (NYSE:DCO) by 47.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,200 shares of the aerospace company’s stock after selling 42,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Ducommun were worth $5,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its position in shares of Ducommun by 1,993.3% during the second 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 last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Ducommun during the 4th quarter worth approximately $26,028,000. Millennium Management LLC raised its holdings in shares of Ducommun by 267.3% in the 4th quarter. Millennium Management LLC now owns 116,872 shares of the aerospace company’s stock worth $11,118,000 after purchasing an additional 85,056 shares during the period. Van ECK Associates Corp lifted its stake in Ducommun by 79.7% in 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 during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Ducommun by 839.7% during 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. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Insider Buying and Selling

In related news, VP Rajiv A. Tata sold 1,612 shares of the firm’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 sale, the vice president directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Laureen S. Gonzalez sold 589 shares of Ducommun stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total transaction of $89,522.11. Following the sale, the vice president owned 11,172 shares of the company’s stock, valued at approximately $1,698,032.28. The trade was a 5.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 7,883 shares of company stock worth $1,200,336. Insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Ducommun from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Royal Bank Of Canada downgraded shares of Ducommun from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $155.00 to $175.00 in a report on Thursday, July 9th. Truist Financial upped their price target on shares of Ducommun from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. B. Riley Financial lifted their price objective 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. Finally, Wall Street Zen cut shares of Ducommun from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $175.80.

Ducommun Stock Up 0.2%

DCO opened at $192.28 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.67 and a quick ratio of 2.59. Ducommun Incorporated has a one year low of $84.76 and a one year high of $196.80. The firm has a market capitalization of $2.90 billion, a P/E ratio of -81.48 and a beta of 1.04. The company has a fifty day moving average price of $169.62 and a 200-day moving average price of $143.99.

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

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.