Palisade Capital Management LP Buys Shares of 29,333 Ducommun Incorporated $DCO

Palisade Capital Management LP purchased a new position in shares of Ducommun Incorporated (NYSE:DCO) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 29,333 shares of the aerospace company’s stock, valued at approximately $5,433,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Ducommun during the second quarter worth $359,395,000. Paradigm Capital Management Inc. NY purchased a new stake in shares of Ducommun in the second quarter valued at $142,704,000. Alliancebernstein L.P. increased its stake in Ducommun by 1,993.3% in the second quarter. Alliancebernstein L.P. now owns 302,969 shares of the aerospace company’s stock valued at $25,034,000 after purchasing an additional 288,496 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in Ducommun in the fourth quarter valued at $26,028,000. Finally, Deutsche Bank AG purchased a new position in Ducommun during the second quarter worth about $41,095,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Stephen G. Oswald sold 5,766 shares of Ducommun stock in a transaction dated 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 transaction, the chief executive officer directly owned 385,875 shares of the company’s stock, valued at $77,618,756.25. The trade was a 1.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Laureen S. Gonzalez sold 589 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was 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 of the company’s stock, valued at $1,698,032.28. The trade was a 5.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,855 shares of company stock worth $1,759,228 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

DCO has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Ducommun in a research note on Monday, August 10th. Citigroup reaffirmed a “buy” rating on shares of Ducommun in a research note on Wednesday, August 12th. B. Riley Financial reiterated a “buy” rating on shares of Ducommun in a report on Friday, August 7th. Royal Bank Of Canada raised their target price on shares of Ducommun from $175.00 to $200.00 and gave the stock a “sector performer” rating in a research report on Friday, August 7th. Finally, Zacks Research upgraded shares of Ducommun from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ducommun has an average rating of “Moderate Buy” and a consensus target price of $192.60.

Ducommun Trading Down 1.4%

Shares of DCO opened at $181.32 on Wednesday. Ducommun Incorporated has a twelve month low of $84.76 and a twelve month high of $210.39. The firm has a market capitalization of $2.74 billion, a P/E ratio of -96.96 and a beta of 1.04. 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 stock’s fifty day simple moving average is $181.29 and its 200 day simple moving average is $152.12.

Ducommun (NYSE:DCO) last posted its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. The firm had revenue of $224.49 million during the quarter, compared to the consensus estimate of $214.32 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, equities research analysts forecast 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.