Lincoln Electric (NASDAQ:LECO) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Lincoln Electric (NASDAQ:LECOGet Rating) from a strong-buy rating to a buy rating in a research note released on Tuesday.

Several other equities analysts also recently issued reports on LECO. Stifel Nicolaus decreased their price objective on shares of Lincoln Electric from $137.00 to $136.00 in a report on Tuesday, October 11th. Seaport Res Ptn reaffirmed a neutral rating on shares of Lincoln Electric in a report on Monday, August 1st. Robert W. Baird increased their price objective on shares of Lincoln Electric from $150.00 to $152.00 in a report on Thursday, October 27th. Oppenheimer increased their price objective on shares of Lincoln Electric to $165.00 in a report on Monday. Finally, Morgan Stanley raised their price target on shares of Lincoln Electric from $135.00 to $140.00 and gave the stock an equal weight rating in a research note on Friday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Lincoln Electric presently has a consensus rating of Hold and a consensus target price of $152.60.

Lincoln Electric Stock Down 0.9 %

LECO stock opened at $148.29 on Tuesday. The firm has a market cap of $8.56 billion, a PE ratio of 19.96, a P/E/G ratio of 1.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.93 and a current ratio of 1.70. The firm’s fifty day moving average is $135.66 and its 200 day moving average is $134.48. Lincoln Electric has a one year low of $118.17 and a one year high of $150.68.

Lincoln Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Saturday, December 31st will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, December 29th. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.56. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.73%. Lincoln Electric’s dividend payout ratio (DPR) is currently 30.15%.

Insider Buying and Selling at Lincoln Electric

In other Lincoln Electric news, SVP Geoffrey P. Allman sold 3,335 shares of Lincoln Electric stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $143.22, for a total transaction of $477,638.70. Following the completion of the sale, the senior vice president now directly owns 11,078 shares in the company, valued at $1,586,591.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lincoln Electric news, SVP Geoffrey P. Allman sold 3,335 shares of Lincoln Electric stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $143.22, for a total transaction of $477,638.70. Following the completion of the sale, the senior vice president now directly owns 11,078 shares in the company, valued at $1,586,591.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jennifer I. Ansberry sold 10,175 shares of Lincoln Electric stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $141.12, for a total transaction of $1,435,896.00. Following the completion of the transaction, the executive vice president now owns 16,783 shares of the company’s stock, valued at approximately $2,368,416.96. The disclosure for this sale can be found here. Company insiders own 3.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Lincoln Electric by 1.1% in the third quarter. Vanguard Group Inc. now owns 5,954,544 shares of the industrial products company’s stock valued at $748,605,000 after purchasing an additional 63,007 shares in the last quarter. BlackRock Inc. lifted its stake in Lincoln Electric by 0.7% in the first quarter. BlackRock Inc. now owns 5,200,068 shares of the industrial products company’s stock worth $716,620,000 after acquiring an additional 38,059 shares during the last quarter. State Street Corp lifted its stake in Lincoln Electric by 2.1% in the third quarter. State Street Corp now owns 2,958,667 shares of the industrial products company’s stock worth $373,594,000 after acquiring an additional 59,991 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Lincoln Electric by 4.0% in the third quarter. Victory Capital Management Inc. now owns 1,844,640 shares of the industrial products company’s stock worth $231,908,000 after acquiring an additional 70,254 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its stake in Lincoln Electric by 1.4% in the third quarter. Boston Trust Walden Corp now owns 765,281 shares of the industrial products company’s stock worth $96,212,000 after acquiring an additional 10,194 shares during the last quarter. Institutional investors and hedge funds own 74.25% of the company’s stock.

Lincoln Electric Company Profile

(Get Rating)

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.

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