Morgan Stanley Raises Lincoln Electric (NASDAQ:LECO) Price Target to $253.00

Lincoln Electric (NASDAQ:LECO) had its price objective increased by equities research analysts at Morgan Stanley from $250.00 to $253.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective indicates a potential upside of 0.10% from the company’s current price.

Several other brokerages also recently issued reports on LECO. Jefferies Financial Group reissued a “hold” rating and set a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research report on Friday, May 1st. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Barclays increased their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $299.38.

Lincoln Electric Trading Down 2.5%

NASDAQ:LECO opened at $252.74 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The business’s 50-day simple moving average is $261.61 and its 200-day simple moving average is $263.13. Lincoln Electric has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The stock has a market capitalization of $13.85 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $2.16 EPS. Lincoln Electric’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Lincoln Electric will post 10.84 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president owned 9,319 shares of the company’s stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lincoln Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LECO. Earned Wealth Advisors LLC increased its stake in shares of Lincoln Electric by 3.8% during the 1st quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock worth $293,000 after purchasing an additional 43 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Lincoln Electric by 2.5% in the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 45 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock valued at $1,045,000 after purchasing an additional 52 shares during the last quarter. Sumitomo Life Insurance Co. lifted its stake in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock valued at $1,034,000 after purchasing an additional 52 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Lincoln Electric by 9.4% during the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 52 shares during the period. 79.61% of the stock is currently owned by institutional investors and hedge funds.

About Lincoln Electric

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.