Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 3.9% during the first quarter, Holdings reports. The firm owned 764,935 shares of the industrial products company’s stock after acquiring an additional 28,381 shares during the period. Geode Capital Management LLC’s holdings in Lincoln Electric were worth $94,041,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Certified Advisory Corp acquired a new position in Lincoln Electric in the first quarter valued at approximately $49,000. Harvest Fund Management Co. Ltd acquired a new stake in Lincoln Electric during the 4th quarter worth $55,000. Meeder Asset Management Inc. lifted its position in Lincoln Electric by 419.2% in the first quarter. Meeder Asset Management Inc. now owns 540 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 436 shares during the last quarter. Private Capital Group LLC boosted its stake in Lincoln Electric by 20.8% in the first quarter. Private Capital Group LLC now owns 632 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 109 shares in the last quarter. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of Lincoln Electric during the first quarter worth about $203,000. 73.18% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ LECO opened at $131.99 on Friday. The business’s fifty day moving average is $128.83. Lincoln Electric Holdings, Inc. has a 1-year low of $79.08 and a 1-year high of $136.04. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $7.86 billion, a P/E ratio of 35.39, a PEG ratio of 2.29 and a beta of 1.17.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Tuesday, April 27th. The industrial products company reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.19. Lincoln Electric had a net margin of 8.29% and a return on equity of 36.67%. The company had revenue of $757.02 million during the quarter, compared to analysts’ expectations of $727.87 million. During the same quarter last year, the business earned $1.00 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, research analysts expect that Lincoln Electric Holdings, Inc. will post 5.62 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, June 29th. Lincoln Electric’s dividend payout ratio is presently 49.16%.

In other news, EVP Jennifer I. Ansberry sold 3,984 shares of the stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $132.31, for a total transaction of $527,123.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.35% of the company’s stock.

A number of research firms recently issued reports on LECO. Barclays raised their price target on Lincoln Electric from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 28th. Vertical Research upgraded shares of Lincoln Electric from a “sell” rating to a “hold” rating and set a $140.00 target price on the stock in a research report on Wednesday, April 28th. Morgan Stanley upped their price target on shares of Lincoln Electric from $121.00 to $132.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 28th. Finally, Oppenheimer upgraded shares of Lincoln Electric from a “market perform” rating to an “outperform” rating and set a $147.00 price objective on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $127.88.

Lincoln Electric Profile

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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Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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