Seaport Global Securities downgraded shares of Lincoln Electric (NASDAQ:LECO) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, BenzingaRatingsTable reports. Seaport Global Securities also issued estimates for Lincoln Electric’s Q4 2019 earnings at $1.23 EPS, Q1 2020 earnings at $1.26 EPS, Q2 2020 earnings at $1.39 EPS, Q3 2020 earnings at $1.36 EPS, Q4 2020 earnings at $1.35 EPS and FY2020 earnings at $5.36 EPS.
LECO has been the subject of several other research reports. BidaskClub upgraded Lincoln Electric from a sell rating to a hold rating in a report on Tuesday, September 10th. Zacks Investment Research upgraded Lincoln Electric from a sell rating to a hold rating and set a $87.00 price objective for the company in a report on Monday, July 1st. Finally, Robert W. Baird upgraded Lincoln Electric from a neutral rating to an outperform rating and increased their price objective 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, six have assigned a hold rating and five have issued a buy rating to the company. Lincoln Electric presently has a consensus rating of Hold and a consensus price target of $95.56.
Lincoln Electric stock opened at $86.36 on Wednesday. The business has a fifty day moving average of $83.65 and a two-hundred day moving average of $83.64. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.84. The firm has a market cap of $5.48 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.56 and a beta of 1.23. Lincoln Electric has a twelve month low of $72.28 and a twelve month high of $97.93.
Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). The company had revenue of $777.01 million for the quarter, compared to analysts’ expectations of $786.03 million. Lincoln Electric had a return on equity of 36.16% and a net margin of 10.42%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 EPS. Equities analysts expect that Lincoln Electric will post 5.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.18%. Lincoln Electric’s dividend payout ratio is presently 39.00%.
In related news, VP George D. Blankenship sold 53,305 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Mintun sold 3,800 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was 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.
A number of hedge funds have recently modified their holdings of LECO. Atria Investments LLC purchased a new position in Lincoln Electric in the 2nd quarter worth $25,425,000. JPMorgan Chase & Co. raised its stake in Lincoln Electric by 19.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,682,402 shares of the industrial products company’s stock worth $135,147,000 after acquiring an additional 269,842 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in Lincoln Electric in the 2nd quarter worth $19,222,000. Schroder Investment Management Group raised its stake in Lincoln Electric by 48.8% in the 2nd quarter. Schroder Investment Management Group now owns 542,300 shares of the industrial products company’s stock worth $44,642,000 after acquiring an additional 177,800 shares during the last quarter. Finally, FMR LLC raised its stake in Lincoln Electric by 34,326.9% in the 1st quarter. FMR LLC now owns 140,806 shares of the industrial products company’s stock worth $11,810,000 after acquiring an additional 140,397 shares during the last quarter. Institutional investors own 76.42% 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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