Lincoln Electric (NASDAQ:LECO) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Lincoln Electric (NASDAQ:LECO) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other equities analysts have also commented on the stock. Stifel Nicolaus boosted their price target on shares of Lincoln Electric from $184.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Robert W. Baird reduced their target price on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $221.67.

Lincoln Electric Trading Up 0.0 %

LECO stock opened at $193.71 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. The firm has a market cap of $11.02 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.49 and a beta of 1.14. Lincoln Electric has a 1-year low of $164.63 and a 1-year high of $261.13. The business’s 50 day moving average is $189.66 and its 200-day moving average is $200.11.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.04. Lincoln Electric had a return on equity of 42.24% and a net margin of 12.48%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted $2.44 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts anticipate that Lincoln Electric will post 8.78 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.71. Lincoln Electric’s dividend payout ratio (DPR) is currently 31.85%.

Insiders Place Their Bets

In other news, SVP Michael J. Whitehead sold 1,100 shares of Lincoln Electric stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.96, for a total value of $193,556.00. Following the completion of the sale, the senior vice president now directly owns 11,178 shares of the company’s stock, valued at approximately $1,966,880.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.63% of the company’s stock.

Institutional Investors Weigh In On Lincoln Electric

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Advisors Ltd. LLC grew its holdings in Lincoln Electric by 194.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 70 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Lincoln Electric by 174.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 68 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Lincoln Electric during the second quarter worth $28,000. UMB Bank n.a. increased its holdings in Lincoln Electric by 97.9% in the third quarter. UMB Bank n.a. now owns 283 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 140 shares during the last quarter. Finally, Quarry LP lifted its stake in Lincoln Electric by 41.5% in the second quarter. Quarry LP now owns 300 shares of the industrial products company’s stock valued at $57,000 after buying an additional 88 shares during the period. 79.61% of the stock is owned by institutional investors.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.