Tower Research Capital LLC TRC increased its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1,197.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,995 shares of the industrial products company’s stock after acquiring an additional 6,456 shares during the period. Tower Research Capital LLC TRC’s holdings in Lincoln Electric were worth $654,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Lincoln Electric by 4.4% during the third quarter. BlackRock Inc. now owns 5,947,985 shares of the industrial products company’s stock worth $555,782,000 after buying an additional 252,538 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Lincoln Electric by 5.3% in the third quarter. Alliancebernstein L.P. now owns 1,514,972 shares of the industrial products company’s stock worth $141,559,000 after purchasing an additional 75,958 shares during the period. Keybank National Association OH boosted its holdings in Lincoln Electric by 3.3% in the third quarter. Keybank National Association OH now owns 1,352,159 shares of the industrial products company’s stock worth $126,346,000 after purchasing an additional 43,519 shares during the period. JPMorgan Chase & Co. boosted its holdings in Lincoln Electric by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 1,264,655 shares of the industrial products company’s stock worth $118,170,000 after purchasing an additional 142,430 shares during the period. Finally, Royce & Associates LP lifted its stake in Lincoln Electric by 2.9% in the second quarter. Royce & Associates LP now owns 1,205,768 shares of the industrial products company’s stock valued at $105,818,000 after buying an additional 34,053 shares during the last quarter. 69.85% of the stock is owned by institutional investors.
LECO has been the topic of a number of recent research reports. Oppenheimer reiterated a “buy” rating and issued a $95.00 target price on shares of Lincoln Electric in a research note on Thursday, October 25th. BidaskClub upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, September 22nd. Gabelli upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research note on Friday, October 26th. Barclays set a $90.00 price objective on shares of Lincoln Electric and gave the company an “equal weight” rating in a research note on Friday, October 26th. Finally, Robert W. Baird set a $85.00 price objective on shares of Lincoln Electric and gave the company a “hold” rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $102.44.
Shares of Lincoln Electric stock opened at $79.97 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.88 and a debt-to-equity ratio of 0.75. Lincoln Electric Holdings, Inc. has a 52 week low of $75.07 and a 52 week high of $101.34. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28.
Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, October 25th. The industrial products company reported $1.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.21. The firm had revenue of $737.10 million for the quarter, compared to analysts’ expectations of $763.42 million. Lincoln Electric had a return on equity of 31.77% and a net margin of 7.40%. As a group, analysts predict that Lincoln Electric Holdings, Inc. will post 4.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.39. Lincoln Electric’s dividend payout ratio (DPR) is currently 41.16%.
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Lincoln Electric Profile
Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.
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