Geode Capital Management LLC Increases Stake in Ducommun Incorporated (NYSE:DCO)

Geode Capital Management LLC increased its position in shares of Ducommun Incorporated (NYSE:DCO) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 310,704 shares of the aerospace company’s stock after purchasing an additional 1,610 shares during the period. Geode Capital Management LLC owned approximately 2.10% of Ducommun worth $20,458,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DCO. Point72 DIFC Ltd grew its position in Ducommun by 591.2% in the 3rd quarter. Point72 DIFC Ltd now owns 788 shares of the aerospace company’s stock valued at $52,000 after acquiring an additional 674 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ducommun during the third quarter valued at $80,000. Eastern Bank bought a new position in shares of Ducommun in the third quarter worth about $118,000. Quantbot Technologies LP purchased a new position in Ducommun in the 3rd quarter worth about $132,000. Finally, Arizona State Retirement System bought a new stake in Ducommun during the 2nd quarter valued at about $202,000. 92.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DCO has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Ducommun from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Truist Financial increased their price objective on Ducommun from $71.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ducommun currently has a consensus rating of “Buy” and a consensus price target of $73.00.

Ducommun Trading Down 2.0 %

NYSE DCO opened at $60.85 on Friday. Ducommun Incorporated has a one year low of $47.53 and a one year high of $70.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.16 and a current ratio of 3.21. The company has a market capitalization of $899.30 million, a price-to-earnings ratio of 30.58 and a beta of 1.41. The company’s 50-day simple moving average is $64.13 and its two-hundred day simple moving average is $62.86.

Insider Activity

In other news, Director Robert C. Ducommun sold 1,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.50, for a total value of $69,500.00. Following the completion of the transaction, the director now directly owns 409,900 shares of the company’s stock, valued at approximately $28,488,050. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.80% of the company’s stock.

Ducommun Profile

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.