Several other analysts have also recently issued reports on the company. Seaport Global Securities cut Lincoln Electric from a buy rating to a neutral rating in a research note on Wednesday, September 18th. Zacks Investment Research raised Lincoln Electric from a sell rating to a hold rating and set a $87.00 target price on the stock in a research note on Monday, July 1st. Finally, Robert W. Baird raised Lincoln Electric from a neutral rating to an outperform rating and raised their target price for the stock from $93.00 to $100.00 in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $95.56.
NASDAQ LECO opened at $87.05 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.98 and a quick ratio of 1.28. The stock has a market capitalization of $5.33 billion, a PE ratio of 18.06, a PEG ratio of 1.56 and a beta of 1.23. Lincoln Electric has a 1 year low of $72.28 and a 1 year high of $97.41. The business’s 50-day moving average is $83.87 and its 200 day moving average is $83.63.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.16%. Lincoln Electric’s payout ratio is presently 39.00%.
In other Lincoln Electric news, VP George D. Blankenship sold 53,305 shares of Lincoln Electric stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $82.67, for a total transaction of $4,406,724.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael Mintun sold 3,800 shares of Lincoln Electric stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.77, for a total value of $322,126.00. The disclosure for this sale can be found here. Insiders own 3.39% of the company’s stock.
A number of institutional investors have recently bought and sold shares of LECO. Geode Capital Management LLC boosted its position in Lincoln Electric by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 767,756 shares of the industrial products company’s stock valued at $60,537,000 after acquiring an additional 39,548 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Lincoln Electric by 94.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,120 shares of the industrial products company’s stock valued at $178,000 after acquiring an additional 1,030 shares in the last quarter. Raymond James & Associates boosted its position in Lincoln Electric by 2.5% during the 1st quarter. Raymond James & Associates now owns 94,358 shares of the industrial products company’s stock valued at $7,914,000 after acquiring an additional 2,329 shares in the last quarter. ETF Managers Group LLC boosted its position in Lincoln Electric by 11.3% during the 1st quarter. ETF Managers Group LLC now owns 1,608 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 163 shares in the last quarter. Finally, Laurion Capital Management LP bought a new stake in Lincoln Electric during the 1st quarter valued at approximately $448,000. 76.42% of the stock is currently owned by institutional investors and hedge funds.
About Lincoln Electric
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 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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