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

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

Several other research firms have also issued reports on LECO. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research note on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. DA Davidson began coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price on the stock. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Finally, Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $299.38.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $252.74 on Friday. Lincoln Electric has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The stock’s 50-day moving average is $261.61 and its two-hundred day moving average is $263.13. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The firm has a market cap of $13.85 billion, a P/E ratio of 26.08, a PEG ratio of 1.60 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $2.16 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Analysts predict that Lincoln Electric will post 10.82 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Lincoln Electric

Several large investors have recently made changes to their positions in LECO. NewEdge Advisors LLC increased its stake in shares of Lincoln Electric by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after purchasing an additional 197 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Lincoln Electric by 553.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after buying an additional 963 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Lincoln Electric by 8.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock worth $68,582,000 after buying an additional 29,505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Lincoln Electric by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock valued at $26,017,000 after buying an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 255 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

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.