Lincoln Electric (NASDAQ:LECO) had its price target trimmed by KeyCorp from $110.00 to $100.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has an overweight rating on the industrial products company’s stock.
Several other analysts have also weighed in on LECO. ValuEngine lowered Lincoln Electric from a hold rating to a sell rating in a report on Monday, July 2nd. Barclays set a $90.00 target price on Lincoln Electric and gave the company an equal weight rating in a report on Friday. BidaskClub lowered Lincoln Electric from a sell rating to a strong sell rating in a report on Friday. Oppenheimer reissued a buy rating and issued a $95.00 target price on shares of Lincoln Electric in a report on Thursday. Finally, Zacks Investment Research lowered Lincoln Electric from a hold rating to a sell rating in a report on Sunday, July 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $102.44.
Lincoln Electric stock opened at $76.85 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.94 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.28 and a beta of 1.19. Lincoln Electric has a fifty-two week low of $75.07 and a fifty-two week high of $101.34.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, December 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.45%. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.39. Lincoln Electric’s dividend payout ratio (DPR) is presently 41.16%.
In related news, Director William E. Macdonald III sold 3,500 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $92.96, for a total transaction of $325,360.00. Following the sale, the director now owns 15,307 shares of the company’s stock, valued at $1,422,938.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn Jo Lincoln sold 3,140 shares of the stock in a transaction on Friday, August 31st. The shares were sold at an average price of $94.10, for a total value of $295,474.00. Following the sale, the director now directly owns 44,194 shares in the company, valued at approximately $4,158,655.40. The disclosure for this sale can be found here. 3.27% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Lincoln Electric during the second quarter valued at $1,461,000. New England Asset Management Inc. acquired a new stake in shares of Lincoln Electric during the second quarter valued at $212,000. Carnegie Capital Asset Management LLC boosted its stake in shares of Lincoln Electric by 2.3% during the second quarter. Carnegie Capital Asset Management LLC now owns 98,890 shares of the industrial products company’s stock valued at $9,054,000 after acquiring an additional 2,230 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Lincoln Electric during the second quarter valued at $1,334,000. Finally, Sei Investments Co. boosted its stake in shares of Lincoln Electric by 5.4% during the second quarter. Sei Investments Co. now owns 22,902 shares of the industrial products company’s stock valued at $2,010,000 after acquiring an additional 1,175 shares during the last quarter. 70.24% of the stock is currently owned by institutional investors and hedge funds.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include 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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