Lincoln Electric (NASDAQ:LECO) Price Target Raised to $247.00

Lincoln Electric (NASDAQ:LECO) had its price objective lifted by Morgan Stanley from $240.00 to $247.00 in a report released on Monday morning,Benzinga reports. They currently have an underweight rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on LECO. Barclays raised their target price on Lincoln Electric from $280.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. KeyCorp upped their price target on Lincoln Electric from $280.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Robert W. Baird set a $330.00 price target on Lincoln Electric in a research note on Friday, February 13th. Wall Street Zen lowered Lincoln Electric from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Roth Mkm restated a “buy” rating and issued a $297.00 price objective (up from $285.00) on shares of Lincoln Electric in a research note on Tuesday, February 3rd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lincoln Electric currently has an average rating of “Hold” and an average target price of $296.29.

Lincoln Electric Stock Up 0.3%

Lincoln Electric stock opened at $249.76 on Monday. Lincoln Electric has a twelve month low of $161.11 and a twelve month high of $310.00. The firm has a 50 day moving average price of $271.42 and a 200-day moving average price of $250.63. The company has a market capitalization of $13.69 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.54 and a beta of 1.28. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.78.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, February 12th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Lincoln Electric had a net margin of 12.30% and a return on equity of 39.35%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm posted $2.57 EPS. Lincoln Electric’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Lincoln Electric will post 9.36 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. Lincoln Electric’s payout ratio is presently 33.91%.

Hedge Funds Weigh In On Lincoln Electric

Large investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. grew its position in shares of Lincoln Electric by 3.9% in the second quarter. Panagora Asset Management Inc. now owns 1,156 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 43 shares in the last quarter. Hilltop Holdings Inc. lifted its holdings in Lincoln Electric by 2.5% during the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 45 shares in the last quarter. Kera Capital Partners Inc. lifted its holdings in Lincoln Electric by 2.8% during the 3rd quarter. Kera Capital Partners Inc. now owns 1,692 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 46 shares in the last quarter. Profund Advisors LLC boosted its stake in Lincoln Electric by 3.8% in the 3rd quarter. Profund Advisors LLC now owns 1,264 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 46 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Lincoln Electric by 2.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,752 shares of the industrial products company’s stock worth $363,000 after purchasing an additional 47 shares during the period. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Company Profile

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.