Lincoln Electric (NASDAQ:LECO) Rating Increased to Strong-Buy at UBS Group

UBS Group upgraded shares of Lincoln Electric (NASDAQ:LECO) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $257.00 to $283.00 in a research note on Monday. Barclays upped their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. DA Davidson initiated coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Lincoln Electric currently has a consensus rating of “Moderate Buy” and an average target price of $307.22.

Lincoln Electric Trading Up 0.9%

Shares of LECO opened at $286.97 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $15.64 billion, a P/E ratio of 28.67, a P/E/G ratio of 1.71 and a beta of 1.20. The firm has a 50-day moving average price of $262.94 and a 200 day moving average price of $264.92. Lincoln Electric has a 12-month low of $216.22 and a 12-month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned $2.60 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Lincoln Electric will post 11.07 EPS for the current year.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is 31.57%.

Insider Buying and Selling at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the transaction, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Lincoln Electric

Several hedge funds have recently made changes to their positions in the company. Elyxium Wealth LLC purchased a new position in Lincoln Electric during the fourth quarter worth about $27,000. Keating Financial Advisory Services Inc. purchased a new stake in Lincoln Electric in the 2nd quarter valued at approximately $29,000. Summit Securities Group LLC acquired a new position in Lincoln Electric during the 4th quarter worth approximately $46,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Lincoln Electric during the 2nd quarter worth approximately $48,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Lincoln Electric by 980.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after buying an additional 255 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

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.