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 report report published on Tuesday.

LECO has been the topic of several other research reports. Stifel Nicolaus dropped their price target on shares of Lincoln Electric from $137.00 to $136.00 in a research note on Tuesday, October 11th. Oppenheimer lifted their target price on shares of Lincoln Electric to $165.00 in a research note on Monday. Morgan Stanley lifted their target price on shares of Lincoln Electric from $135.00 to $140.00 and gave the company an equal weight rating in a research note on Friday, October 28th. Seaport Res Ptn restated a neutral rating on shares of Lincoln Electric in a research note on Monday, August 1st. Finally, Robert W. Baird lifted their target price on shares of Lincoln Electric from $150.00 to $152.00 in a research note on Thursday, October 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Lincoln Electric presently has an average rating of Hold and a consensus price target of $152.60.

Lincoln Electric Trading Down 0.9 %

Shares of Lincoln Electric stock opened at $148.29 on Tuesday. The company’s fifty day simple moving average is $135.66 and its 200-day simple moving average is $134.48. The stock has a market capitalization of $8.56 billion, a PE ratio of 19.96, a P/E/G ratio of 1.21 and a beta of 1.15. Lincoln Electric has a 1-year low of $118.17 and a 1-year high of $150.68. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.70 and a quick ratio of 0.93.

Lincoln Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Saturday, December 31st will be issued a $0.64 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This is an increase 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 payout ratio is 30.15%.

Insider Transactions at Lincoln Electric

In other news, EVP Jennifer I. Ansberry sold 10,175 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $141.12, for a total value of $1,435,896.00. Following the sale, the executive vice president now directly owns 16,783 shares in the company, valued at approximately $2,368,416.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Geoffrey P. Allman sold 3,335 shares of the company’s 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 transaction, the senior vice president now directly owns 11,078 shares in the company, valued at approximately $1,586,591.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jennifer I. Ansberry sold 10,175 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 16,783 shares in the company, valued at $2,368,416.96. The disclosure for this sale can be found here. Insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On Lincoln Electric

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in Lincoln Electric by 164.7% in the 1st quarter. SG Americas Securities LLC now owns 14,277 shares of the industrial products company’s stock valued at $1,968,000 after buying an additional 8,884 shares during the period. Versor Investments LP boosted its position in Lincoln Electric by 32.0% in the 1st quarter. Versor Investments LP now owns 4,231 shares of the industrial products company’s stock valued at $583,000 after buying an additional 1,025 shares during the period. Envestnet Asset Management Inc. boosted its position in Lincoln Electric by 4.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 23,381 shares of the industrial products company’s stock valued at $3,222,000 after buying an additional 905 shares during the period. Victory Capital Management Inc. boosted its position in Lincoln Electric by 25.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,817,978 shares of the industrial products company’s stock valued at $250,251,000 after buying an additional 366,053 shares during the period. Finally, State of Michigan Retirement System boosted its position in Lincoln Electric by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 14,989 shares of the industrial products company’s stock valued at $2,066,000 after buying an additional 76 shares during the period. 74.25% of the stock is currently owned by institutional investors.

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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