BidaskClub upgraded shares of Lincoln Electric (NASDAQ:LECO) from a sell rating to a hold rating in a report released on Tuesday, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Lincoln Electric from a sell rating to a hold rating and set a $87.00 price target for the company in a report on Monday, July 1st. Robert W. Baird raised Lincoln Electric from a neutral rating to an outperform rating and upped their price target for the company from $93.00 to $100.00 in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $95.56.

Shares of NASDAQ LECO traded up $0.85 during trading hours on Tuesday, hitting $89.35. 67,168 shares of the company’s stock were exchanged, compared to its average volume of 278,653. The company’s 50-day moving average price is $83.33 and its 200-day moving average price is $83.58. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.98 and a quick ratio of 1.28. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.53 and a beta of 1.23. Lincoln Electric has a 1-year low of $72.28 and a 1-year high of $97.93.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.02). The firm had revenue of $777.01 million during the quarter, compared to analyst estimates of $786.03 million. Lincoln Electric had a net margin of 10.42% and a return on equity of 36.16%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $1.22 EPS. On average, research analysts expect that Lincoln Electric will post 5.08 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.88 annualized dividend and a yield of 2.10%. Lincoln Electric’s dividend payout ratio (DPR) is 39.00%.

In other news, VP George D. Blankenship sold 53,305 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $82.67, for a total value of $4,406,724.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Michael Mintun sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.77, for a total value of $322,126.00. The disclosure for this sale can be found here. Corporate insiders own 3.39% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Marathon Asset Management LLP grew its stake in shares of Lincoln Electric by 9.8% in the 2nd quarter. Marathon Asset Management LLP now owns 289,117 shares of the industrial products company’s stock valued at $23,936,000 after purchasing an additional 25,811 shares during the period. BTIM Corp. grew its position in Lincoln Electric by 0.3% during the 2nd quarter. BTIM Corp. now owns 498,039 shares of the industrial products company’s stock worth $40,998,000 after acquiring an additional 1,342 shares during the last quarter. Arizona State Retirement System grew its position in Lincoln Electric by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 45,578 shares of the industrial products company’s stock worth $3,752,000 after acquiring an additional 169 shares during the last quarter. Geode Capital Management LLC grew its position in Lincoln Electric by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 767,756 shares of the industrial products company’s stock worth $60,537,000 after acquiring an additional 39,548 shares during the last quarter. Finally, Cambridge Trust Co. grew its position in Lincoln Electric by 3.9% during the 2nd quarter. Cambridge Trust Co. now owns 7,738 shares of the industrial products company’s stock worth $637,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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