Lincoln Electric (NASDAQ:LECO) Price Target Raised to $99.00 at Morgan Stanley

Lincoln Electric (NASDAQ:LECO) had its target price upped by Morgan Stanley from $90.00 to $99.00 in a research report sent to investors on Wednesday morning, AnalystRatings.net reports. The firm currently has an equal weight rating on the industrial products company’s stock.

LECO has been the subject of several other reports. Barclays upgraded Lincoln Electric from an equal weight rating to an overweight rating and upped their target price for the stock from $96.00 to $117.00 in a research note on Monday, October 19th. JPMorgan Chase & Co. upgraded shares of Lincoln Electric from a neutral rating to an overweight rating in a report on Monday, October 19th. BidaskClub upgraded shares of Lincoln Electric from a hold rating to a buy rating in a report on Wednesday, October 21st. Longbow Research upgraded shares of Lincoln Electric from a neutral rating to a buy rating and set a $120.00 price target for the company in a report on Monday, October 12th. Finally, Robert W. Baird upped their price target on shares of Lincoln Electric from $94.00 to $106.00 and gave the stock an outperform rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Lincoln Electric has an average rating of Hold and a consensus price target of $103.33.

NASDAQ LECO opened at $100.00 on Wednesday. The business has a fifty day moving average price of $95.28 and a two-hundred day moving average price of $88.08. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.77 and a quick ratio of 1.04. Lincoln Electric has a fifty-two week low of $59.29 and a fifty-two week high of $106.20. The stock has a market capitalization of $5.94 billion, a PE ratio of 28.09, a PEG ratio of 2.78 and a beta of 1.23.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Tuesday, October 27th. The industrial products company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.31. Lincoln Electric had a return on equity of 33.45% and a net margin of 7.93%. The firm had revenue of $668.90 million during the quarter, compared to analysts’ expectations of $611.83 million. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Lincoln Electric will post 3.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.04%. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.49. The ex-dividend date is Wednesday, December 30th. Lincoln Electric’s dividend payout ratio is presently 41.70%.

In other Lincoln Electric news, SVP Geoffrey P. Allman sold 4,435 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $98.36, for a total transaction of $436,226.60. Following the completion of the sale, the senior vice president now directly owns 12,888 shares in the company, valued at approximately $1,267,663.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michele R. Kuhrt sold 5,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $97.64, for a total value of $488,200.00. Following the sale, the executive vice president now owns 11,843 shares of the company’s stock, valued at $1,156,350.52. The disclosure for this sale can be found here. Insiders sold 15,845 shares of company stock valued at $1,535,333 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Lincoln Electric by 7.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,203,261 shares of the industrial products company’s stock worth $101,364,000 after purchasing an additional 78,377 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Lincoln Electric by 14.9% during the 2nd quarter. Fisher Asset Management LLC now owns 793,912 shares of the industrial products company’s stock worth $66,879,000 after purchasing an additional 102,790 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Lincoln Electric by 16.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 696,745 shares of the industrial products company’s stock worth $58,694,000 after purchasing an additional 98,563 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Lincoln Electric by 1.6% during the 3rd quarter. Boston Trust Walden Corp now owns 602,377 shares of the industrial products company’s stock worth $55,443,000 after purchasing an additional 9,282 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Lincoln Electric by 5.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 566,760 shares of the industrial products company’s stock worth $47,744,000 after purchasing an additional 31,577 shares in the last quarter. 74.58% of the stock is currently 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. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company 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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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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