Lincoln Electric Holdings Inc. (NASDAQ:LECO) had its price target boosted by Barclays PLC from $55.00 to $58.00 in a research note published on Wednesday. They currently have an equal weight rating on the stock.
LECO has been the subject of a number of other reports. Zacks Investment Research cut shares of Lincoln Electric Holdings from a hold rating to a sell rating in a research report on Monday, October 3rd. TheStreet cut shares of Lincoln Electric Holdings from a buy rating to a hold rating in a research report on Friday, June 24th. Wellington Shields cut shares of Lincoln Electric Holdings to a hold rating in a research report on Wednesday, August 24th. Deutsche Bank AG initiated coverage on shares of Lincoln Electric Holdings in a research report on Tuesday, September 6th. They issued a hold rating and a $70.00 target price for the company. Finally, Wunderlich reduced their target price on shares of Lincoln Electric Holdings from $85.00 to $75.00 and set a buy rating for the company in a research report on Wednesday, July 20th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Lincoln Electric Holdings presently has an average rating of Hold and a consensus target price of $66.50.
Shares of Lincoln Electric Holdings (NASDAQ:LECO) opened at 61.47 on Wednesday. The stock has a market capitalization of $4.13 billion, a PE ratio of 60.09 and a beta of 1.10. Lincoln Electric Holdings has a 52-week low of $45.54 and a 52-week high of $65.33. The firm has a 50-day moving average of $62.40 and a 200 day moving average of $61.34.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its earnings results on Monday, July 25th. The company reported $0.83 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.83. The business earned $592.40 million during the quarter, compared to analysts’ expectations of $589.08 million. Lincoln Electric Holdings had a net margin of 3.11% and a return on equity of 25.46%. The company’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. Equities research analysts forecast that Lincoln Electric Holdings will post $3.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Wednesday, September 28th. Lincoln Electric Holdings’s dividend payout ratio is presently 119.63%.
Several large investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Lincoln Electric Holdings by 141.6% in the first quarter. State Street Corp now owns 4,503,670 shares of the company’s stock worth $263,783,000 after buying an additional 2,639,676 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Lincoln Electric Holdings by 244.1% in the second quarter. JPMorgan Chase & Co. now owns 833,164 shares of the company’s stock worth $49,223,000 after buying an additional 591,008 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Lincoln Electric Holdings during the second quarter worth $21,926,000. Lodge Hill Capital LLC bought a new stake in shares of Lincoln Electric Holdings during the second quarter worth $18,906,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Lincoln Electric Holdings by 1,147.4% in the second quarter. Thrivent Financial for Lutherans now owns 335,920 shares of the company’s stock worth $19,846,000 after buying an additional 308,990 shares in the last quarter. Institutional investors and hedge funds own 65.15% of the company’s stock.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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