Lincoln Electric (NASDAQ:LECO) PT Lowered to $212.00 at Robert W. Baird

Lincoln Electric (NASDAQ:LECO) had its price objective cut by Robert W. Baird from $220.00 to $212.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Loop Capital lowered their price objective on Lincoln Electric from $285.00 to $265.00 and set a buy rating on the stock in a research note on Friday, May 24th. StockNews.com upgraded Lincoln Electric from a hold rating to a buy rating in a research report on Tuesday, August 6th. KeyCorp decreased their price target on Lincoln Electric from $280.00 to $240.00 and set an overweight rating on the stock in a research report on Friday, May 24th. Finally, Stifel Nicolaus upped their price target on Lincoln Electric from $209.00 to $213.00 and gave the company a hold rating in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $218.29.

Lincoln Electric Trading Up 0.3 %

Shares of Lincoln Electric stock opened at $175.06 on Wednesday. Lincoln Electric has a 52-week low of $164.00 and a 52-week high of $261.13. The stock’s 50-day simple moving average is $194.19 and its 200 day simple moving average is $215.81. The stock has a market capitalization of $9.96 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 2.06.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. Lincoln Electric had a return on equity of 42.24% and a net margin of 12.48%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business posted $2.44 EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, research analysts anticipate that Lincoln Electric will post 9.07 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Monday, September 30th. Lincoln Electric’s payout ratio is 30.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Lincoln Electric by 54.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,939 shares of the industrial products company’s stock worth $5,604,000 after purchasing an additional 7,718 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Lincoln Electric by 62.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 65,079 shares of the industrial products company’s stock worth $16,442,000 after purchasing an additional 25,082 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Lincoln Electric by 2,984.6% during the fourth quarter. Eagle Asset Management Inc. now owns 439,065 shares of the industrial products company’s stock worth $95,479,000 after purchasing an additional 424,831 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Lincoln Electric by 21.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 45,409 shares of the industrial products company’s stock worth $11,593,000 after purchasing an additional 7,922 shares in the last quarter. Finally, Comerica Bank grew its holdings in shares of Lincoln Electric by 28.4% during the fourth quarter. Comerica Bank now owns 126,573 shares of the industrial products company’s stock worth $27,525,000 after purchasing an additional 27,989 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

About Lincoln Electric

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 brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.