Lincoln Electric (NASDAQ:LECO) Price Target Cut to $264.00 by Analysts at Stifel Nicolaus

Lincoln Electric (NASDAQ:LECO) had its target price reduced by Stifel Nicolaus from $300.00 to $264.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

A number of other brokerages also recently issued reports on LECO. Robert W. Baird set a $330.00 price target on Lincoln Electric in a report on Friday, February 13th. Roth Mkm restated a “buy” rating and set a $297.00 price target (up from $285.00) on shares of Lincoln Electric in a report on Tuesday, February 3rd. Jefferies Financial Group restated a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Morgan Stanley boosted their price target on Lincoln Electric from $240.00 to $247.00 and gave the company an “underweight” rating in a report on Monday, March 30th. Finally, Barclays reduced their price target on Lincoln Electric from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $291.14.

Lincoln Electric Stock Up 5.1%

Shares of NASDAQ:LECO opened at $254.40 on Wednesday. Lincoln Electric has a 1 year low of $162.84 and a 1 year high of $310.00. The company has a market cap of $13.95 billion, a PE ratio of 27.30, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.82 and a quick ratio of 1.16. The stock’s 50-day moving average is $270.03 and its 200 day moving average is $250.91.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, February 12th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the business earned $2.57 EPS. Lincoln Electric’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts anticipate that Lincoln Electric will post 9.36 EPS for the current year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.79 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. Lincoln Electric’s dividend payout ratio is 33.91%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Lincoln Electric by 4.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,850,816 shares of the industrial products company’s stock worth $436,478,000 after acquiring an additional 72,826 shares during the period. Norges Bank purchased a new position in shares of Lincoln Electric during the 4th quarter worth approximately $415,155,000. Geode Capital Management LLC boosted its position in shares of Lincoln Electric by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock worth $313,175,000 after purchasing an additional 6,070 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Lincoln Electric by 14.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company’s stock worth $306,767,000 after buying an additional 158,305 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Lincoln Electric by 5,862.4% in the 4th quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock worth $304,670,000 after buying an additional 1,250,041 shares during the last quarter. 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 and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.