Belden Inc. (NYSE:BDC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Belden Inc is engaged in the design, manufacture and retail of cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. The Company’s products find its application in the industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden Inc is based in St. Louis, Missouri. “

BDC has been the subject of a number of other research reports. JPMorgan Chase & Co. started coverage on shares of Belden in a report on Monday, February 13th. They set a “neutral” rating and a $76.00 price target for the company. Canaccord Genuity restated a “buy” rating and set a $83.00 price target on shares of Belden in a report on Tuesday, December 6th. Seaport Global Securities started coverage on shares of Belden in a report on Thursday, March 2nd. They set a “buy” rating and a $82.00 price target for the company. Deutsche Bank AG started coverage on shares of Belden in a report on Thursday, December 15th. They set a “buy” rating and a $85.00 price target for the company. Finally, Stifel Nicolaus cut their price target on shares of Belden from $86.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, December 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $81.71.

Analyst Recommendations for Belden (NYSE:BDC)

Shares of Belden (NYSE:BDC) traded down 0.27% during trading on Monday, reaching $69.92. 386,282 shares of the company were exchanged. Belden has a 1-year low of $54.97 and a 1-year high of $81.33. The stock has a market capitalization of $2.95 billion, a P/E ratio of 26.38 and a beta of 2.24. The firm has a 50-day moving average price of $73.24 and a 200-day moving average price of $71.90.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. The business earned $612.40 million during the quarter, compared to the consensus estimate of $616.10 million. Belden had a net margin of 5.43% and a return on equity of 20.29%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. Equities research analysts predict that Belden will post $5.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Thursday, March 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. Belden’s payout ratio is currently 7.58%.

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In related news, Director Judy L. Brown sold 9,000 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $76.50, for a total transaction of $688,500.00. Following the completion of the transaction, the director now owns 13,268 shares of the company’s stock, valued at approximately $1,015,002. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glenn Pennycook sold 6,306 shares of the stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $72.86, for a total transaction of $459,455.16. Following the transaction, the executive vice president now directly owns 18,343 shares of the company’s stock, valued at approximately $1,336,470.98. The disclosure for this sale can be found here. Company insiders own 1.37% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in Belden by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the company’s stock worth $219,000 after buying an additional 25 shares during the last quarter. HM Capital Management LLC boosted its position in shares of Belden by 1.0% in the third quarter. HM Capital Management LLC now owns 3,555 shares of the company’s stock valued at $245,000 after buying an additional 34 shares in the last quarter. State Treasurer State of Michigan boosted its position in shares of Belden by 0.6% in the third quarter. State Treasurer State of Michigan now owns 17,000 shares of the company’s stock valued at $1,173,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Belden by 7.1% in the third quarter. Advisors Asset Management Inc. now owns 2,489 shares of the company’s stock valued at $172,000 after buying an additional 165 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Belden by 6.9% in the third quarter. LS Investment Advisors LLC now owns 2,696 shares of the company’s stock valued at $186,000 after buying an additional 174 shares in the last quarter.

Belden Company Profile

Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).

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