Trust Point Inc. Sells 11,123 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Trust Point Inc. reduced its position in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 46.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,965 shares of the technology company's stock after selling 11,123 shares during the quarter. Trust Point Inc.'s holdings in Benchmark Electronics were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BHE. Algert Global LLC bought a new stake in shares of Benchmark Electronics in the 2nd quarter valued at about $246,000. Truist Financial Corp increased its stake in Benchmark Electronics by 51.4% during the 2nd quarter. Truist Financial Corp now owns 10,965 shares of the technology company's stock worth $433,000 after purchasing an additional 3,721 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Benchmark Electronics during the 2nd quarter worth approximately $1,144,000. SG Americas Securities LLC bought a new stake in Benchmark Electronics during the 3rd quarter worth approximately $421,000. Finally, GAMMA Investing LLC increased its stake in Benchmark Electronics by 161.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,255 shares of the technology company's stock worth $100,000 after purchasing an additional 1,392 shares in the last quarter. 92.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com raised Benchmark Electronics from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Needham & Company LLC increased their target price on Benchmark Electronics from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Benchmark Electronics presently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Benchmark Electronics Stock Down 1.0 %

NYSE:BHE traded down $0.43 during trading hours on Friday, reaching $41.61. 217,748 shares of the stock were exchanged, compared to its average volume of 258,363. Benchmark Electronics, Inc. has a twelve month low of $27.44 and a twelve month high of $52.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.46. The firm has a 50 day moving average of $46.19 and a 200 day moving average of $44.74. The stock has a market cap of $1.50 billion, a PE ratio of 24.05 and a beta of 0.99.

Benchmark Electronics (NYSE:BHE - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a return on equity of 6.68% and a net margin of 2.38%.

Benchmark Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, December 31st. Benchmark Electronics's payout ratio is presently 39.31%.

Insider Activity

In other news, CEO Jeff Benck sold 6,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $45.31, for a total value of $271,860.00. Following the completion of the sale, the chief executive officer now owns 418,173 shares of the company's stock, valued at approximately $18,947,418.63. This represents a 1.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Benchmark Electronics Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.