Bull Harbor Capital LLC Invests $985,000 in Lincoln Electric Holdings, Inc. $LECO

Bull Harbor Capital LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,953 shares of the industrial products company’s stock, valued at approximately $985,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Earned Wealth Advisors LLC boosted its holdings in Lincoln Electric by 3.8% in the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 43 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in Lincoln Electric by 2.5% during the fourth quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 45 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Lincoln Electric by 1.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock worth $1,045,000 after buying an additional 52 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Lincoln Electric by 9.4% during the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock worth $151,000 after buying an additional 52 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its holdings in shares of Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock valued at $1,034,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Down 3.5%

Shares of Lincoln Electric stock opened at $257.99 on Thursday. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The company has a market cap of $14.14 billion, a P/E ratio of 26.62, a PEG ratio of 1.64 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. The firm has a fifty day moving average of $260.06 and a two-hundred day moving average of $263.72.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 earnings per share. On average, analysts forecast that Lincoln Electric Holdings, Inc. will post 10.85 earnings per share for the current year.

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s payout ratio is currently 32.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LECO shares. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Wall Street Zen cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. DA Davidson started coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price objective for the company. Morgan Stanley lifted their target price on Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a research report on Friday, July 17th. Finally, Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $299.38.

About Lincoln Electric

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.