Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Stock Has Average Target Price of $319.11

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $319.11.

A number of research firms have recently commented on LECO. Barclays boosted their price target on Lincoln Electric from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Robert W. Baird raised their price objective on Lincoln Electric from $317.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. DA Davidson set a $340.00 target price on Lincoln Electric in a research report on Thursday, October 29th. Finally, Weiss Ratings downgraded Lincoln Electric from a “buy (b)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th.

Lincoln Electric Stock Down 2.6%

Shares of LECO opened at $272.13 on Tuesday. Lincoln Electric has a one year low of $216.22 and a one year high of $310.00. The company has a market cap of $14.74 billion, a P/E ratio of 26.09, a P/E/G ratio of 1.64 and a beta of 1.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.91 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $267.71 and a two-hundred day simple moving average of $266.37.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Tuesday, October 27th. The industrial products company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Lincoln Electric had a return on equity of 40.06% and a net margin of 12.40%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.47 earnings per share. Research analysts forecast that Lincoln Electric will post 11.38 EPS for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, December 31st. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.79. Lincoln Electric’s dividend payout ratio is 30.30%.

Insider Buying and Selling at Lincoln Electric

In related news, CEO Steven B. Hedlund sold 14,371 shares of Lincoln Electric stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $281.95, for a total transaction of $4,051,903.45. Following the sale, the chief executive officer directly owned 63,483 shares of the company’s stock, valued at approximately $17,899,031.85. The trade was a 18.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.68% of the company’s stock.

Institutional Trading of Lincoln Electric

Hedge funds have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC bought a new position in Lincoln Electric during the 2nd quarter worth approximately $26,000. Financial Network Wealth Advisors LLC boosted its stake in shares of Lincoln Electric by 194.1% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 100 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 66 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new stake in shares of Lincoln Electric in the 2nd quarter valued at $29,000. Latitude Advisors LLC acquired a new stake in shares of Lincoln Electric during the third quarter worth $32,000. Finally, Heritage Family Offices LLP bought a new position in Lincoln Electric during the third quarter worth $34,000. Institutional investors and hedge funds 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.