Lincoln Electric (LECO) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Lincoln Electric (NASDAQ:LECO) from a sell rating to a hold rating in a report issued on Thursday.

Several other equities research analysts have also recently commented on the company. KeyCorp lowered their price target on Lincoln Electric from $110.00 to $100.00 and set an overweight rating for the company in a research note on Friday, October 26th. Barclays set a $90.00 price target on Lincoln Electric and gave the company an equal weight rating in a research note on Friday, October 26th. Gabelli raised Lincoln Electric from a hold rating to a buy rating and set a $111.00 price target for the company in a research note on Friday, October 26th. BidaskClub cut Lincoln Electric from a sell rating to a strong sell rating in a research report on Friday, October 26th. Finally, Robert W. Baird set a $85.00 target price on Lincoln Electric and gave the stock a hold rating in a research report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $102.44.

Shares of NASDAQ LECO traded up $1.02 during trading hours on Thursday, hitting $84.10. The stock had a trading volume of 486,471 shares, compared to its average volume of 564,735. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.34 and a beta of 1.27. Lincoln Electric has a 52 week low of $75.07 and a 52 week high of $101.34. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.94 and a current ratio of 2.58.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, October 25th. The industrial products company reported $1.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.21. The business had revenue of $737.10 million during the quarter, compared to analysts’ expectations of $763.42 million. Lincoln Electric had a return on equity of 31.77% and a net margin of 7.40%. On average, analysts predict that Lincoln Electric will post 4.74 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.88 dividend on an annualized basis and a yield of 2.24%. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.39. Lincoln Electric’s dividend payout ratio is presently 41.16%.

In other Lincoln Electric news, Director Kathryn Jo Lincoln sold 3,140 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $94.10, for a total transaction of $295,474.00. Following the completion of the sale, the director now owns 44,194 shares of the company’s stock, valued at $4,158,655.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William E. Macdonald III sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $92.96, for a total value of $325,360.00. Following the transaction, the director now owns 15,307 shares of the company’s stock, valued at $1,422,938.72. The disclosure for this sale can be found here. 3.27% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Lincoln Electric by 3.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 21,088 shares of the industrial products company’s stock worth $1,851,000 after buying an additional 673 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Lincoln Electric by 2.6% during the second quarter. Canada Pension Plan Investment Board now owns 26,700 shares of the industrial products company’s stock worth $2,343,000 after buying an additional 675 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Lincoln Electric by 2.5% during the second quarter. GHP Investment Advisors Inc. now owns 28,139 shares of the industrial products company’s stock worth $2,469,000 after buying an additional 695 shares during the last quarter. Skylands Capital LLC lifted its holdings in shares of Lincoln Electric by 1.9% during the third quarter. Skylands Capital LLC now owns 38,046 shares of the industrial products company’s stock worth $3,555,000 after buying an additional 696 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Lincoln Electric by 11.5% during the second quarter. Janney Montgomery Scott LLC now owns 7,591 shares of the industrial products company’s stock worth $666,000 after buying an additional 782 shares during the last quarter. Institutional investors own 70.43% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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