PNC Financial Services Group Inc. raised its position in shares of Ducommun Incorporated (NYSE:DCO) by 4,516.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,108 shares of the aerospace company’s stock after buying an additional 1,084 shares during the period. PNC Financial Services Group Inc.’s holdings in Ducommun were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Algert Global LLC grew its stake in shares of Ducommun by 10.2% during the fourth quarter. Algert Global LLC now owns 7,076 shares of the aerospace company’s stock valued at $257,000 after purchasing an additional 655 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Ducommun by 2.5% during the third quarter. TIAA CREF Investment Management LLC now owns 50,823 shares of the aerospace company’s stock valued at $2,076,000 after purchasing an additional 1,232 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Ducommun during the fourth quarter valued at approximately $82,000. IndexIQ Advisors LLC grew its stake in shares of Ducommun by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 74,827 shares of the aerospace company’s stock valued at $3,056,000 after purchasing an additional 2,826 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Ducommun by 18.8% during the fourth quarter. First Trust Advisors LP now owns 18,717 shares of the aerospace company’s stock valued at $680,000 after purchasing an additional 2,958 shares during the last quarter. 79.80% of the stock is owned by institutional investors.
In related news, Director Robert C. Ducommun sold 685 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $45.60, for a total transaction of $31,236.00. Following the sale, the director now directly owns 405,315 shares in the company, valued at $18,482,364. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.50% of the company’s stock.
Ducommun (NYSE:DCO) last announced its quarterly earnings results on Thursday, February 28th. The aerospace company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Ducommun had a return on equity of 7.36% and a net margin of 1.44%. The firm had revenue of $164.18 million for the quarter, compared to the consensus estimate of $157.88 million. On average, research analysts anticipate that Ducommun Incorporated will post 2.39 EPS for the current fiscal year.
Several research firms have recently commented on DCO. Zacks Investment Research cut shares of Ducommun from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Noble Financial raised shares of Ducommun from a “market perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research note on Friday, March 1st. Finally, TheStreet cut shares of Ducommun from a “b-” rating to a “c” rating in a research note on Monday, January 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $47.00.
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Ducommun Incorporated provides engineering and manufacturing products and services primarily to the aerospace, defense, industrial, natural resources, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment offers cable assemblies and interconnect systems; printed circuit board assemblies; high-level electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, wire harnesses, surge suppressors, conformal shields, and other assemblies.
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