Wall Street Zen upgraded shares of Lincoln Electric (NASDAQ:LECO – Free Report) from a hold rating to a buy rating in a report issued on Sunday morning,Wall Street Zen reports.
Several other analysts have also recently weighed in on LECO. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. UBS Group initiated coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target on the stock. DA Davidson initiated coverage on Lincoln Electric in a research report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price objective for the company. Finally, Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.22.
Get Our Latest Stock Analysis on Lincoln Electric
Lincoln Electric Stock Up 1.8%
Lincoln Electric (NASDAQ:LECO – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. Lincoln Electric’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts anticipate that Lincoln Electric will post 11.16 earnings per share for the current year.
Lincoln Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s payout ratio is 31.57%.
Institutional Trading of Lincoln Electric
Several institutional investors have recently added to or reduced their stakes in LECO. Transamerica Financial Advisors LLC acquired a new stake in shares of Lincoln Electric in the 2nd quarter worth approximately $26,000. Keating Financial Advisory Services Inc. acquired a new position in Lincoln Electric during the second quarter worth $29,000. Fiduciary Financial Advisors purchased a new stake in Lincoln Electric during the second quarter worth $38,000. Ancora Advisors LLC purchased a new stake in Lincoln Electric during the second quarter worth $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Lincoln Electric in the second quarter valued at $48,000. Institutional investors and hedge funds own 79.61% of the company’s stock.
About Lincoln Electric
Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.
Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.
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