Lincoln Electric (NASDAQ:LECO) Price Target Raised to $253.00

Lincoln Electric (NASDAQ:LECO) had its target price upped by Morgan Stanley from $250.00 to $253.00 in a report issued on Friday morning,Benzinga reports. They currently have an underweight rating on the industrial products company’s stock.

LECO has been the topic of several other reports. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research report on Friday, May 1st. Barclays boosted their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Finally, DA Davidson began coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. 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 data from MarketBeat, Lincoln Electric presently has an average rating of “Hold” and a consensus target price of $299.38.

Lincoln Electric Price Performance

NASDAQ:LECO opened at $252.74 on Friday. The company has a 50-day moving average of $261.61 and a 200-day moving average of $263.25. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.55 and a beta of 1.20. Lincoln Electric has a 52 week low of $216.22 and a 52 week high of $310.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $2.16 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts anticipate that Lincoln Electric will post 10.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction that occurred on 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 owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lincoln Electric

A number of large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL increased its holdings in shares of Lincoln Electric by 3,475.4% in the third quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company’s stock valued at $12,100,000 after purchasing an additional 49,872 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in Lincoln Electric by 37.3% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company’s stock worth $3,811,000 after buying an additional 4,317 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Lincoln Electric by 7.8% during the 4th quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock worth $15,488,000 after buying an additional 4,655 shares in the last quarter. K.J. Harrison & Partners Inc bought a new position in Lincoln Electric in the 4th quarter valued at $1,677,000. Finally, Norges Bank bought a new position in Lincoln Electric in the 4th quarter valued at $415,155,000. 79.61% of the stock is currently owned by institutional investors.

Lincoln Electric Company Profile

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.