Benchmark Lowers Belden (NYSE:BDC) Price Target to $120.00

Belden (NYSE:BDC - Get Free Report) had its price target dropped by research analysts at Benchmark from $130.00 to $120.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Benchmark's price target suggests a potential upside of 27.66% from the stock's previous close.

Several other brokerages have also commented on BDC. 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 report on Thursday, April 10th. StockNews.com downgraded shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Tuesday, April 15th. Finally, Loop Capital cut their target price on shares of Belden from $155.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden has an average rating of "Buy" and a consensus target price of $126.20.

Belden Trading Up 0.5 %

Shares of NYSE:BDC opened at $94.00 on Monday. The company has a market capitalization of $3.74 billion, a PE ratio of 19.54 and a beta of 1.07. Belden has a 12-month low of $81.02 and a 12-month high of $131.82. The business has a 50 day moving average of $102.65 and a two-hundred day moving average of $112.92. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, analysts forecast that Belden will post 7.07 EPS for the current year.

Insider Buying and Selling at Belden

In other Belden news, SVP Leah Tate sold 2,400 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the sale, the senior vice president now owns 23,243 shares of the company's stock, valued at $2,667,599.11. The trade was a 9.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory James Mccray sold 4,200 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.21, for a total value of $441,882.00. Following the transaction, the director now owns 4,199 shares of the company's stock, valued at approximately $441,776.79. This represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,428 shares of company stock worth $2,589,774 over the last quarter. 1.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Belden

Several hedge funds have recently bought and sold shares of BDC. Barclays PLC lifted its position in shares of Belden by 189.4% during the third quarter. Barclays PLC now owns 80,132 shares of the industrial products company's stock worth $9,386,000 after purchasing an additional 52,439 shares in the last quarter. Tidal Investments LLC increased its stake in Belden by 5.1% during the 3rd quarter. Tidal Investments LLC now owns 8,742 shares of the industrial products company's stock worth $1,024,000 after buying an additional 426 shares during the period. Peapack Gladstone Financial Corp acquired a new stake in Belden during the 3rd quarter worth approximately $243,000. Lord Abbett & CO. LLC boosted its position in Belden by 10.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company's stock valued at $82,939,000 after buying an additional 68,151 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Belden by 15.1% in the third quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company's stock worth $21,432,000 after acquiring an additional 23,936 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

About Belden

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.

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