Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Receives $307.22 Consensus PT from Analysts

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) has received an average rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $307.2222.

Several equities analysts recently commented on the stock. UBS Group initiated coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They issued a “buy” rating and a $340.00 price objective for the company. Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a report on Friday, May 1st.

Insiders Place Their Bets

In other news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lincoln Electric

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Lincoln Electric during the second quarter worth about $656,165,000. New York State Teachers Retirement System lifted its holdings in Lincoln Electric by 7.8% in the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock valued at $15,488,000 after acquiring an additional 4,655 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in Lincoln Electric in the 4th quarter worth approximately $1,677,000. Norges Bank acquired a new stake in shares of Lincoln Electric during the 4th quarter worth approximately $415,155,000. Finally, California State Teachers Retirement System grew its stake in shares of Lincoln Electric by 23.2% during the 1st quarter. California State Teachers Retirement System now owns 64,257 shares of the industrial products company’s stock worth $16,005,000 after purchasing an additional 12,093 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Trading Up 3.6%

Shares of NASDAQ:LECO opened at $290.12 on Thursday. The business’s 50-day moving average is $266.89 and its 200 day moving average is $266.03. Lincoln Electric has a 1 year low of $216.22 and a 1 year high of $310.00. The firm has a market capitalization of $15.81 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.68 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $2.60 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. On average, research analysts predict that Lincoln Electric will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. Lincoln Electric’s payout ratio is currently 31.57%.

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.