Belden (NYSE:BDC) Price Target Raised to $136.00

Belden (NYSE:BDC) had its price objective raised by Truist Financial from $124.00 to $136.00 in a report published on Friday, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

A number of other research analysts have also weighed in on BDC. Benchmark lifted their price target on shares of Belden from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Vertical Research assumed coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $122.75.

Belden Stock Performance

Shares of NYSE:BDC opened at $115.24 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $4.70 billion, a P/E ratio of 26.80 and a beta of 1.07. The business has a 50-day moving average price of $112.21 and a two-hundred day moving average price of $100.07. Belden has a 1-year low of $60.54 and a 1-year high of $123.03.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter in the prior year, the company posted $1.78 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Belden will post 6.04 earnings per share for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s payout ratio is 4.65%.

Insider Activity

In related news, SVP Brian Edward Anderson sold 6,556 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at $3,298,001.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Belden

Institutional investors have recently modified their holdings of the business. Matrix Trust Co bought a new stake in shares of Belden during the third quarter valued at approximately $25,000. GAMMA Investing LLC raised its holdings in Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Belden during the second quarter worth $28,000. Whittier Trust Co. lifted its stake in shares of Belden by 662.2% in the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Belden during the second quarter valued at about $95,000. Institutional investors own 98.75% of the company’s stock.

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.