Lincoln Electric (NASDAQ:LECO) Price Target Raised to $165.00 at Oppenheimer

Lincoln Electric (NASDAQ:LECOGet Rating) had its target price boosted by Oppenheimer to $165.00 in a research note published on Monday morning, Stock Target Advisor reports. Oppenheimer also issued estimates for Lincoln Electric’s Q4 2022 earnings at $1.87 EPS, FY2022 earnings at $8.20 EPS and FY2023 earnings at $8.90 EPS.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus reduced their price target on shares of Lincoln Electric from $137.00 to $136.00 in a research report on Tuesday, October 11th. Robert W. Baird boosted their price objective on shares of Lincoln Electric from $150.00 to $152.00 in a research note on Thursday, October 27th. Seaport Res Ptn reissued a neutral rating on shares of Lincoln Electric in a research note on Monday, August 1st. Morgan Stanley boosted their price objective on shares of Lincoln Electric from $135.00 to $140.00 and gave the stock an equal weight rating in a research note on Friday, October 28th. Finally, StockNews.com raised shares of Lincoln Electric from a buy rating to a strong-buy rating in a research note on Monday, November 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $152.60.

Lincoln Electric Price Performance

Shares of NASDAQ LECO opened at $149.00 on Monday. Lincoln Electric has a 1 year low of $118.17 and a 1 year high of $150.01. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.70 and a quick ratio of 0.93. The company’s 50-day moving average is $135.05 and its 200 day moving average is $134.19. The stock has a market capitalization of $8.60 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.20 and a beta of 1.15.

Lincoln Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Saturday, December 31st will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, December 29th. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.56. Lincoln Electric’s dividend payout ratio is currently 30.15%.

Insider Transactions at Lincoln Electric

In other news, EVP Jennifer I. Ansberry sold 10,175 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 16,783 shares in the company, valued at $2,368,416.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Geoffrey P. Allman sold 3,335 shares of the stock in a transaction that occurred on 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 owns 11,078 shares in the company, valued at $1,586,591.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer I. Ansberry sold 10,175 shares of the stock in a transaction that occurred on 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 approximately $2,368,416.96. The disclosure for this sale can be found here. Insiders own 3.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LECO. BDO Wealth Advisors LLC bought a new position in Lincoln Electric during the third quarter valued at approximately $27,000. Fred Alger Management LLC purchased a new stake in Lincoln Electric during the third quarter valued at approximately $34,000. Lazard Asset Management LLC purchased a new stake in Lincoln Electric during the first quarter valued at approximately $35,000. IFP Advisors Inc increased its holdings in Lincoln Electric by 33.2% during the third quarter. IFP Advisors Inc now owns 305 shares of the industrial products company’s stock valued at $46,000 after buying an additional 76 shares during the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new stake in Lincoln Electric during the third quarter valued at approximately $52,000. Institutional investors own 74.25% of the company’s stock.

Lincoln Electric Company Profile

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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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