Lincoln Electric (NASDAQ:LECO) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Lincoln Electric (NASDAQ:LECO – Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other analysts also recently issued reports on LECO. Barclays lifted their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research report on Friday, May 1st. Morgan Stanley increased their price objective on Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a report on Friday, July 17th. DA Davidson assumed coverage on Lincoln Electric in a research report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 target price on the stock. Finally, Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $307.22.

Get Our Latest Stock Analysis on Lincoln Electric

Lincoln Electric Stock Down 1.6%

Lincoln Electric stock opened at $277.33 on Friday. The company has a 50 day moving average of $261.86 and a 200-day moving average of $264.56. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. Lincoln Electric has a twelve month low of $216.22 and a twelve month high of $310.00. The stock has a market capitalization of $15.12 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $2.60 earnings per share. On average, equities research analysts anticipate that Lincoln Electric will post 11.05 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.1%. Lincoln Electric’s payout ratio is 31.57%.

Insider Activity at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Earned Wealth Advisors LLC boosted its stake in Lincoln Electric by 3.8% in the 1st quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 43 shares during the period. Hilltop Holdings Inc. boosted its position in shares of Lincoln Electric by 2.5% in the fourth quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock valued at $439,000 after acquiring an additional 45 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Lincoln Electric by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock valued at $1,045,000 after acquiring an additional 52 shares in the last quarter. Sumitomo Life Insurance Co. grew its stake in shares of Lincoln Electric by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock valued at $1,034,000 after acquiring an additional 52 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Lincoln Electric by 9.4% during the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

About Lincoln Electric

(Get Free Report)

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.

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