Lincoln Electric (NASDAQ:LECO) Price Target Lowered to $280.00 at Barclays

Lincoln Electric (NASDAQ:LECO) had its price objective cut by Barclays from $310.00 to $280.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

LECO has been the subject of several other reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln Electric in a report on Thursday, January 22nd. KeyCorp raised their price target on shares of Lincoln Electric from $280.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Wall Street Zen cut Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Robert W. Baird set a $330.00 target price on Lincoln Electric in a research note on Friday, February 13th. Finally, Morgan Stanley boosted their price target on Lincoln Electric from $240.00 to $247.00 and gave the stock an “underweight” rating in a research note on Monday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $296.29.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $249.76 on Wednesday. The business has a fifty day moving average price of $271.42 and a 200-day moving average price of $250.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.82 and a quick ratio of 1.16. The company has a market capitalization of $13.69 billion, a PE ratio of 26.80, a PEG ratio of 1.54 and a beta of 1.28. Lincoln Electric has a 1-year low of $161.11 and a 1-year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, February 12th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Lincoln Electric had a net margin of 12.30% and a return on equity of 39.35%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $2.57 EPS. Lincoln Electric’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Lincoln Electric will post 9.36 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 31st. Lincoln Electric’s dividend payout ratio is presently 33.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its position in shares of Lincoln Electric by 72.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,156 shares of the industrial products company’s stock valued at $517,000 after purchasing an additional 904 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Lincoln Electric by 6.9% in the fourth quarter. World Investment Advisors now owns 3,748 shares of the industrial products company’s stock worth $898,000 after buying an additional 243 shares during the last quarter. Corient Private Wealth LLC grew its position in Lincoln Electric by 252.1% during the fourth quarter. Corient Private Wealth LLC now owns 8,293 shares of the industrial products company’s stock valued at $1,988,000 after buying an additional 5,938 shares during the period. Midway Capital Research & Management bought a new stake in Lincoln Electric during the fourth quarter valued at approximately $2,468,000. Finally, Tempo Wealth LLC purchased a new stake in Lincoln Electric during the fourth quarter valued at approximately $988,000. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

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.