Lincoln Electric (NASDAQ:LECO) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Lincoln Electric (NASDAQ:LECOGet Rating) from a buy rating to a strong-buy rating in a report released on Monday morning.

A number of other analysts have also commented on LECO. Stifel Nicolaus dropped their price target on Lincoln Electric from $134.00 to $122.00 in a research note on Monday, July 18th. Robert W. Baird raised their price objective on Lincoln Electric from $143.00 to $150.00 in a research report on Thursday, July 28th. Finally, Morgan Stanley lowered their price objective on Lincoln Electric from $143.00 to $126.00 and set an equal weight rating for the company in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $145.60.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $140.72 on Monday. The stock has a fifty day moving average of $128.92 and a 200 day moving average of $130.12. Lincoln Electric has a 52 week low of $118.17 and a 52 week high of $148.54. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.19 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.62 and a debt-to-equity ratio of 0.78.

Lincoln Electric (NASDAQ:LECOGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The industrial products company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.20. Lincoln Electric had a return on equity of 50.64% and a net margin of 10.15%. The company had revenue of $969.59 million during the quarter, compared to analyst estimates of $936.62 million. During the same quarter last year, the firm posted $1.67 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. As a group, research analysts expect that Lincoln Electric will post 7.92 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.56 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.24 annualized dividend and a dividend yield of 1.59%. Lincoln Electric’s payout ratio is presently 36.78%.

Hedge Funds Weigh In On Lincoln Electric

Several institutional investors and hedge funds have recently modified their holdings of LECO. Victory Capital Management Inc. increased its holdings in shares of Lincoln Electric by 25.2% during the first quarter. Victory Capital Management Inc. now owns 1,817,978 shares of the industrial products company’s stock valued at $250,251,000 after acquiring an additional 366,053 shares in the last quarter. State Street Corp increased its holdings in shares of Lincoln Electric by 11.8% during the first quarter. State Street Corp now owns 2,859,342 shares of the industrial products company’s stock valued at $395,604,000 after acquiring an additional 302,002 shares in the last quarter. Vaughan David Investments LLC IL bought a new position in shares of Lincoln Electric during the first quarter valued at $23,335,000. Acadian Asset Management LLC increased its holdings in shares of Lincoln Electric by 106.3% during the first quarter. Acadian Asset Management LLC now owns 109,281 shares of the industrial products company’s stock valued at $15,046,000 after acquiring an additional 56,306 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Lincoln Electric by 18.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 356,657 shares of the industrial products company’s stock valued at $49,743,000 after acquiring an additional 55,767 shares in the last quarter. 74.17% of the stock is currently owned by institutional investors.

Lincoln Electric Company Profile

(Get Rating)

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 welding products, including 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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