Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) have been given an average recommendation of “Hold” by the nine brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $299.3750.

Several research firms have issued reports on LECO. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. 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 note on Tuesday, March 31st. Morgan Stanley lifted their target price on Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a report on Friday, July 17th. Barclays boosted their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a report on Friday, May 1st.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.68% of the company’s stock.

Hedge Funds Weigh In On Lincoln Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diamant Asset Management Inc. grew its holdings in shares of Lincoln Electric by 24,685.8% during the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock valued at $956,360,000 after buying an additional 3,824,077 shares in the last quarter. Norges Bank acquired a new stake in Lincoln Electric during the 4th quarter worth about $415,155,000. Geode Capital Management LLC grew its stake in Lincoln Electric by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock valued at $313,175,000 after acquiring an additional 6,070 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Lincoln Electric by 14.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company’s stock valued at $306,767,000 after purchasing an additional 158,305 shares during the period. Finally, M&T Bank Corp increased its holdings in shares of Lincoln Electric by 5,862.4% in the 4th quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock valued at $304,670,000 after purchasing an additional 1,250,041 shares during the period. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric Stock Performance

NASDAQ:LECO opened at $251.47 on Friday. The company has a 50-day moving average of $259.93 and a 200-day moving average of $263.37. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. Lincoln Electric has a twelve month low of $216.22 and a twelve month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 EPS. Analysts forecast that Lincoln Electric will post 10.85 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s payout ratio is presently 32.61%.

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.