Lincoln Electric (NASDAQ:LECO) Price Target Raised to $293.00

Lincoln Electric (NASDAQ:LECO) had its price objective increased by Morgan Stanley from $283.00 to $293.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Stifel Nicolaus raised their price objective on Lincoln Electric from $271.00 to $290.00 and gave the stock a “hold” rating in a research report on Wednesday. Robert W. Baird lifted their price objective on Lincoln Electric from $317.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, UBS Group increased their price target on shares of Lincoln Electric from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $319.11.

Lincoln Electric Stock Down 2.6%

Shares of NASDAQ:LECO opened at $276.92 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.67 and a beta of 1.21. The stock’s 50-day moving average price is $267.96 and its two-hundred day moving average price is $265.93. Lincoln Electric has a 12-month low of $216.22 and a 12-month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a net margin of 12.40% and a return on equity of 40.06%. Lincoln Electric’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the business earned $2.47 EPS. On average, research analysts forecast that Lincoln Electric will post 11.38 EPS for the current year.

Lincoln Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.87 dividend. The ex-dividend date is Thursday, December 31st. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.79. This represents a $3.48 dividend on an annualized basis and a yield of 1.3%. Lincoln Electric’s dividend payout ratio is presently 31.57%.

Hedge Funds Weigh In On Lincoln Electric

Several institutional investors have recently bought and sold shares of LECO. BlackRock Inc. bought a new stake in Lincoln Electric in the second quarter valued at $1,431,181,000. Hsbc Holdings PLC purchased a new stake in Lincoln Electric in the second quarter worth about $52,700,000. Algebris UK Ltd. bought a new stake in shares of Lincoln Electric during the second quarter valued at approximately $44,811,000. Caisse de depot et placement du Quebec bought a new stake in shares of Lincoln Electric during the 2nd quarter valued at $26,148,000. Finally, Advisors Capital Management LLC purchased a new stake in Lincoln Electric in the second quarter worth about $21,914,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.