Seaport Res Ptn Reiterates “Neutral” Rating for Lincoln Electric (NASDAQ:LECO)

Seaport Res Ptn reaffirmed their neutral rating on shares of Lincoln Electric (NASDAQ:LECO – Get Rating) in a research note published on Monday morning, PriceTargets.com reports. Seaport Res Ptn also issued estimates for Lincoln Electric’s Q3 2022 earnings at $2.03 EPS, Q4 2022 earnings at $2.02 EPS, FY2022 earnings at $8.33 EPS, Q1 2023 earnings at $2.12 EPS, Q2 2023 earnings at $2.17 EPS, Q4 2023 earnings at $2.04 EPS and FY2023 earnings at $8.38 EPS.

Several other equities analysts have also issued reports on the company. Robert W. Baird boosted their price objective on Lincoln Electric from $143.00 to $150.00 in a research report on Thursday, July 28th. StockNews.com upgraded Lincoln Electric from a buy rating to a strong-buy rating in a research report on Monday. Morgan Stanley cut their target price on Lincoln Electric from $143.00 to $126.00 and set an equal weight rating on the stock in a research note on Monday, July 18th. Finally, Stifel Nicolaus cut their target price on Lincoln Electric from $134.00 to $122.00 in a research note on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $147.60.

Lincoln Electric Price Performance

Lincoln Electric stock opened at $141.35 on Monday. The firm has a market capitalization of $8.19 billion, a P/E ratio of 23.21, a PEG ratio of 1.13 and a beta of 1.16. Lincoln Electric has a 1 year low of $118.17 and a 1 year high of $148.54. The business has a 50-day moving average of $129.44 and a 200-day moving average of $130.29. The company has a current ratio of 1.62, a quick ratio of 0.91 and a debt-to-equity ratio of 0.78.

Lincoln Electric (NASDAQ:LECO – Get Rating) last posted its earnings results on Thursday, July 28th. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the company earned $1.67 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Lincoln Electric will post 8.2 EPS for the current year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.56 dividend. The ex-dividend date is Thursday, September 29th. This represents a $2.24 annualized dividend and a yield of 1.58%. Lincoln Electric’s dividend payout ratio is presently 36.78%.

Hedge Funds Weigh In On Lincoln Electric

Several large investors have recently bought and sold shares of LECO. CWM LLC bought a new position in Lincoln Electric in the fourth quarter valued at about $25,000. National Bank of Canada FI bought a new position in shares of Lincoln Electric during the fourth quarter worth about $29,000. Lazard Asset Management LLC bought a new position in shares of Lincoln Electric during the first quarter worth about $35,000. Sageworth Trust Co of South Dakota bought a new position in shares of Lincoln Electric during the fourth quarter worth about $40,000. Finally, UMB Bank N A MO bought a new position in shares of Lincoln Electric during the fourth quarter worth about $61,000. 74.17% of the stock is currently owned by institutional investors.

About Lincoln Electric

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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.