Brokerages Set Belden Inc (NYSE:BDC) Price Target at $128.20

Shares of Belden Inc (NYSE:BDC) have received a consensus rating of “Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $128.20.

Several equities research analysts have recently weighed in on BDC shares. Benchmark increased their price target on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th. Wall Street Zen downgraded Belden from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 21st. Finally, The Goldman Sachs Group dropped their price objective on Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th.

Insider Buying and Selling

In related news, SVP Leah Tate sold 231 shares of Belden stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total value of $26,250.84. Following the sale, the senior vice president now directly owns 30,170 shares in the company, valued at approximately $3,428,518.80. The trade was a 0.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Belden

Several institutional investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in Belden by 5.0% in the fourth quarter. FMR LLC now owns 4,710,224 shares of the industrial products company’s stock valued at $530,418,000 after acquiring an additional 223,887 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Belden by 0.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,043,510 shares of the industrial products company’s stock valued at $105,478,000 after purchasing an additional 7,683 shares during the period. Invesco Ltd. raised its position in Belden by 37.2% in the first quarter. Invesco Ltd. now owns 1,024,497 shares of the industrial products company’s stock valued at $102,706,000 after purchasing an additional 277,782 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Belden by 18.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 821,118 shares of the industrial products company’s stock worth $82,319,000 after acquiring an additional 125,722 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in shares of Belden by 0.5% during the fourth quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company’s stock worth $80,154,000 after acquiring an additional 3,692 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Belden Stock Performance

NYSE BDC opened at $116.61 on Tuesday. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 22.51 and a beta of 1.23. The company has a quick ratio of 1.29, a current ratio of 1.93 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $107.43 and a 200-day moving average price of $108.70. Belden has a twelve month low of $83.18 and a twelve month high of $131.82.

Belden (NYSE:BDC) last posted its earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.12. The company had revenue of $624.86 million for the quarter, compared to the consensus estimate of $615.81 million. Belden had a return on equity of 22.28% and a net margin of 8.35%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. As a group, equities research analysts predict that Belden will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Thursday, June 12th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden’s dividend payout ratio (DPR) is 3.86%.

Belden Company Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.