Lincoln Electric (NASDAQ:LECO) Given New $165.00 Price Target at Oppenheimer

Lincoln Electric (NASDAQ:LECOGet Rating) had its price objective hoisted by Oppenheimer to $165.00 in a report released on Monday morning, Stock Target Advisor reports. Oppenheimer also issued estimates for Lincoln Electric’s Q4 2022 earnings at $1.87 EPS, FY2022 earnings at $8.20 EPS and FY2023 earnings at $8.90 EPS.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus lowered their price target on shares of Lincoln Electric from $137.00 to $136.00 in a report on Tuesday, October 11th. Morgan Stanley increased their price target on shares of Lincoln Electric from $135.00 to $140.00 and gave the stock an equal weight rating in a report on Friday, October 28th. Seaport Res Ptn reissued a neutral rating on shares of Lincoln Electric in a report on Monday, August 1st. Robert W. Baird increased their price target on shares of Lincoln Electric from $150.00 to $152.00 in a report on Thursday, October 27th. Finally, StockNews.com upgraded shares of Lincoln Electric from a buy rating to a strong-buy rating in a research report on Monday, November 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Lincoln Electric currently has an average rating of Hold and an average price target of $152.60.

Lincoln Electric Trading Down 0.9 %

Shares of Lincoln Electric stock opened at $148.29 on Monday. Lincoln Electric has a 12-month low of $118.17 and a 12-month high of $150.68. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.21 and a beta of 1.15. The company has a current ratio of 1.70, a quick ratio of 0.93 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $135.66 and its 200-day moving average price is $134.48.

Lincoln Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Saturday, December 31st will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 1.73%. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, December 29th. Lincoln Electric’s dividend payout ratio is 30.15%.

Insider Buying and Selling

In related news, SVP Geoffrey P. Allman sold 3,335 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $143.22, for a total value of $477,638.70. Following the transaction, the senior vice president now directly owns 11,078 shares in the company, valued at $1,586,591.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Lincoln Electric news, EVP Jennifer I. Ansberry sold 10,175 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $141.12, for a total transaction of $1,435,896.00. Following the transaction, the executive vice president now directly owns 16,783 shares in the company, valued at $2,368,416.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Geoffrey P. Allman sold 3,335 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $143.22, for a total transaction of $477,638.70. Following the transaction, the senior vice president now owns 11,078 shares in the company, valued at $1,586,591.16. The disclosure for this sale can be found here. 3.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BDO Wealth Advisors LLC bought a new position in shares of Lincoln Electric in the third quarter worth approximately $27,000. Fred Alger Management LLC bought a new position in shares of Lincoln Electric in the third quarter worth approximately $34,000. Lazard Asset Management LLC bought a new position in shares of Lincoln Electric in the first quarter worth approximately $35,000. IFP Advisors Inc grew its holdings in shares of Lincoln Electric by 33.2% in the third quarter. IFP Advisors Inc now owns 305 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 76 shares during the last quarter. Finally, Wipfli Financial Advisors LLC bought a new position in shares of Lincoln Electric in the third quarter worth approximately $52,000. 74.25% of the stock is currently owned by institutional investors.

About Lincoln Electric

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Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It 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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