Lincoln Electric (NASDAQ:LECO) Upgraded by DA Davidson to “Strong-Buy” Rating

DA Davidson upgraded shares of Lincoln Electric (NASDAQ:LECO) to a strong-buy rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. DA Davidson currently has $320.00 price objective on the industrial products company’s stock.

A number of other equities research analysts have also recently weighed in on LECO. Jefferies Financial Group reaffirmed 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. Wall Street Zen lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Barclays lifted their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Morgan Stanley reiterated an “underweight” rating and set a $250.00 price objective on shares of Lincoln Electric in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.00.

Lincoln Electric Stock Up 2.1%

Shares of Lincoln Electric stock opened at $273.54 on Tuesday. The business has a 50-day moving average of $260.75 and a 200-day moving average of $260.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The company has a market capitalization of $14.99 billion, a PE ratio of 28.23, a P/E/G ratio of 1.65 and a beta of 1.21. Lincoln Electric has a 1-year low of $199.13 and a 1-year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $2.16 earnings per share. As a group, equities analysts forecast that Lincoln Electric will post 10.81 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric’s dividend payout ratio is currently 32.61%.

Hedge Funds Weigh In On Lincoln Electric

A number of large investors have recently modified their holdings of LECO. Elyxium Wealth LLC acquired a new position in Lincoln Electric in the fourth quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new stake in Lincoln Electric in the fourth quarter worth $46,000. Geneos Wealth Management Inc. raised its holdings in Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 255 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Lincoln Electric during the fourth quarter worth $64,000. Finally, United Community Bank bought a new stake in shares of Lincoln Electric during the fourth quarter worth $65,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.

About Lincoln Electric

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.