Lincoln Electric (NASDAQ:LECO) Price Target Raised to $185.00 at Stifel Nicolaus

Lincoln Electric (NASDAQ:LECO) had its price objective raised by Stifel Nicolaus from $184.00 to $185.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

Several other equities analysts have also commented on the company. Robert W. Baird lowered their price objective on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. StockNews.com cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $221.67.

Lincoln Electric Trading Up 1.3 %

Shares of LECO opened at $194.71 on Wednesday. Lincoln Electric has a 1-year low of $164.00 and a 1-year high of $261.13. The company has a current ratio of 2.06, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average price is $188.74 and its 200-day moving average price is $202.91. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.43 and a beta of 1.14.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share for the quarter, beating the consensus estimate 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 firm posted $2.44 EPS. The business’s revenue was down 3.7% on a year-over-year basis. Sell-side analysts anticipate that Lincoln Electric will post 8.95 EPS for the current year.

Insider Transactions at Lincoln Electric

In related news, SVP Michael J. Whitehead sold 1,100 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.96, for a total transaction of $193,556.00. Following the sale, the senior vice president now directly owns 11,178 shares of the company’s stock, valued at $1,966,880.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Lincoln Electric

A number of institutional investors and hedge funds have recently made changes to their positions in LECO. Ritholtz Wealth Management raised its position in Lincoln Electric by 4.8% in the third quarter. Ritholtz Wealth Management now owns 1,303 shares of the industrial products company’s stock worth $250,000 after acquiring an additional 60 shares during the period. Threadgill Financial LLC lifted its position in Lincoln Electric by 5.6% during the first quarter. Threadgill Financial LLC now owns 1,267 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 67 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Lincoln Electric by 174.4% in the first quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $27,000 after buying an additional 68 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Lincoln Electric by 194.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock valued at $27,000 after buying an additional 70 shares in the last quarter. Finally, Financial Counselors Inc. grew its stake in shares of Lincoln Electric by 0.3% during the 1st quarter. Financial Counselors Inc. now owns 26,125 shares of the industrial products company’s stock valued at $6,673,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

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.