Belden (NYSE:BDC) Given New $120.00 Price Target at Benchmark

Belden (NYSE:BDC - Get Free Report) had its price objective lowered by equities researchers at Benchmark from $130.00 to $120.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Benchmark's target price indicates a potential upside of 17.73% from the stock's previous close.

Several other research analysts have also commented on BDC. Loop Capital cut their price objective on Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. The Goldman Sachs Group dropped their target price on Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, StockNews.com cut Belden from a "strong-buy" rating to a "buy" rating in a report on Tuesday, April 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $126.20.

Belden Trading Up 0.5 %

NYSE:BDC traded up $0.56 on Monday, hitting $101.93. 139,026 shares of the stock were exchanged, compared to its average volume of 273,932. The stock has a fifty day moving average of $100.97 and a 200-day moving average of $112.28. The stock has a market cap of $4.05 billion, a PE ratio of 21.19 and a beta of 1.07. 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 has a fifty-two week low of $81.02 and a fifty-two week high of $131.82.

Belden (NYSE:BDC - Get Free Report) last posted its 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, equities analysts expect that Belden will post 7.07 earnings per share for the current fiscal year.

Insider Activity at Belden

In other Belden news, CEO Ashish Chand sold 14,535 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the transaction, the chief executive officer now owns 107,129 shares of the company's stock, valued at $11,939,527.05. This trade represents a 11.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Leah Tate sold 2,400 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the sale, the senior vice president now directly owns 23,243 shares in the company, valued at approximately $2,667,599.11. This represents a 9.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,428 shares of company stock valued at $2,589,774. Insiders own 1.48% of the company's stock.

Institutional Trading of Belden

A number of institutional investors and hedge funds have recently modified their holdings of BDC. Allspring Global Investments Holdings LLC lifted its holdings 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 worth $105,478,000 after acquiring an additional 7,683 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in Belden during the 1st quarter worth $117,000. Oppenheimer Asset Management Inc. lifted its stake in Belden by 1.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 17,899 shares of the industrial products company's stock valued at $1,794,000 after buying an additional 193 shares during the last quarter. Nilsine Partners LLC boosted its holdings in shares of Belden by 4.9% during the first quarter. Nilsine Partners LLC now owns 36,573 shares of the industrial products company's stock valued at $3,666,000 after acquiring an additional 1,694 shares during the period. Finally, Retirement Systems of Alabama grew its position in shares of Belden by 14.4% during the first quarter. Retirement Systems of Alabama now owns 203,940 shares of the industrial products company's stock worth $20,445,000 after acquiring an additional 25,677 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

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.