ST. LOUIS - Belden Inc . (NYSE: NYSE:BDC), a global supplier of network infrastructure and digitization solutions, has introduced a new addition to its Lumberg Automation LioN product line with the LioN-Safety I/O Modules. These modules are designed to enhance functional safety in industrial settings by facilitating the integration of safety and non-safety data into Programmable Logic Controller (PLC) environments.
The LioN-Safety I/O Modules, which support the PROFIsafe and CIP Safety protocols, are aimed at simplifying the transmission of critical safety data over existing networks. The CIP Safety protocol is expected to be available in the fourth quarter of 2024. This new offering from Belden allows for the exchange of safety-relevant data and diagnostic information, which can save time, resources, and space in highly automated operations.
These modules offer users the ability to easily integrate safety measures by incorporating the modules into a PLC's engineering tools. They also provide maximum flexibility by connecting safety inputs/outputs, non-safety I/Os, and IO-Link signals, with the added capability of cloud communication. The PROFINET/PROFIsafe I/O modules are suitable for applications with conformance class C and Netload class III or CIP Safety, and they have been certified up to SIL 3, Cat 4, and Performance Level e (PLe) by TÜV Rheinland.
Jeremy Friedmar, Director of Product Management, Data Ingestion & Firewalls at Belden, emphasized the importance of ensuring the safety of plant workers as industrial automation continues to grow. The LioN-Safety I/O Modules are designed to reliably transmit essential safety and diagnostic information, contributing to the protection of workers, machinery, and the overall plant environment.
The modules are built with a space-saving, rugged metal housing, ensuring durability and reliability even in challenging industrial environments such as automotive manufacturing, consumer packaged goods, machine building, metals, and logistics.
This announcement is based on a press release statement from Belden Inc. For further details on the LioN-Safety I/O Modules, interested parties can visit the Belden website.
In other recent news, Belden Inc. has seen a series of positive developments. The company has outperformed its own Q2 guidance, reporting earnings per share (EPS) of $1.51 and revenue of $604 million. Additionally, Belden announced new financial targets and a $300 million share buyback program, signaling confidence in its strategic direction. This, combined with an existing $115 million, totals potential repurchases of $415 million.
Benchmark raised the price target on Belden shares to $120 from $115, maintaining a Buy rating. This adjustment follows Belden's Analyst Day, where the company reaffirmed its ambitious EPS goal of $8 for the year 2025. Loop Capital also maintained its Buy rating on Belden, highlighting the company's growth and margin expansion potential.
In other company news, Belden's transformation into a value-added full data infrastructure solutions provider is reportedly creating significant momentum. The company also announced the renaming of its segments to better reflect its focus on data infrastructure solutions. Furthermore, Belden's strategic acquisition of Precision Optical Technologies is expected to strengthen its market position. These are recent developments that provide insight into Belden's resilience and strategic growth amidst global market challenges.
InvestingPro Insights
As Belden Inc. (NYSE: BDC) introduces its new LioN-Safety I/O Modules, it's worth noting some key financial insights that reflect the company's current market position and performance.
According to InvestingPro data, Belden's market capitalization stands at $4.82 billion, indicating a substantial presence in the industrial technology sector. The company's P/E ratio of 24.81 suggests investors are willing to pay a premium for its earnings, possibly due to growth expectations or market confidence in its innovative products like the LioN-Safety I/O Modules.
An InvestingPro Tip highlights that Belden has maintained dividend payments for 21 consecutive years, demonstrating a commitment to shareholder returns that may appeal to income-focused investors. This consistent dividend history aligns well with the company's focus on long-term growth and innovation in industrial automation solutions.
Another relevant InvestingPro Tip reveals that Belden's liquid assets exceed its short-term obligations. This strong liquidity position could provide the financial flexibility needed to support ongoing research and development efforts, such as the expansion of the LioN product line.
For readers interested in a more comprehensive analysis, InvestingPro offers 8 additional tips that could provide further insights into Belden's financial health and market performance.
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