134,748 Shares in Ducommun Incorporated $DCO Purchased by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. bought a new stake in shares of Ducommun Incorporated (NYSE:DCO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 134,748 shares of the aerospace company’s stock, valued at approximately $12,953,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Ducommun by 2.1% in the third quarter. Vanguard Group Inc. now owns 823,225 shares of the aerospace company’s stock worth $79,137,000 after acquiring an additional 16,985 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Ducommun by 7.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,414 shares of the aerospace company’s stock worth $232,000 after purchasing an additional 164 shares during the last quarter. Aberdeen Group plc bought a new stake in Ducommun in the 3rd quarter worth approximately $19,035,000. Advisors Asset Management Inc. raised its stake in Ducommun by 63.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 31,741 shares of the aerospace company’s stock valued at $3,051,000 after buying an additional 12,353 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Ducommun by 3.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company’s stock valued at $311,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DCO. Wall Street Zen lowered Ducommun from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. The Goldman Sachs Group boosted their price target on Ducommun from $117.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada increased their price objective on shares of Ducommun from $100.00 to $142.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Zacks Research raised shares of Ducommun from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Ducommun in a report on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Ducommun currently has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Insiders Place Their Bets

In related news, VP Jerry L. Redondo sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $92.86, for a total value of $185,720.00. Following the completion of the transaction, the vice president owned 65,269 shares of the company’s stock, valued at approximately $6,060,879.34. This represents a 2.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.90% of the company’s stock.

Ducommun Trading Up 0.6%

Shares of NYSE:DCO opened at $126.62 on Thursday. The stock has a 50 day moving average of $111.19 and a 200 day moving average of $99.02. The company has a market cap of $1.89 billion, a PE ratio of -54.11 and a beta of 1.05. Ducommun Incorporated has a 12-month low of $51.76 and a 12-month high of $128.17. The company has a current ratio of 2.04, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33.

Ducommun (NYSE:DCO) last issued its quarterly earnings results on Thursday, February 26th. The aerospace company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.14. The business had revenue of $215.80 million for the quarter, compared to the consensus estimate of $217.42 million. Ducommun had a negative net margin of 4.29% and a positive return on equity of 7.70%. As a group, equities research analysts expect that Ducommun Incorporated will post 3.21 EPS 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.