Michael Whitehead Sells 845 Shares of Lincoln Electric (NASDAQ:LECO) Stock

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) EVP Michael Whitehead sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lincoln Electric Stock Up 0.1%

LECO stock opened at $275.37 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $15.09 billion, a PE ratio of 28.42, a PEG ratio of 1.69 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a 1-year low of $199.13 and a 1-year high of $310.00. The business’s 50 day simple moving average is $262.47 and its 200 day simple moving average is $260.89.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $2.16 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. Lincoln Electric’s dividend payout ratio is presently 32.61%.

Analysts Set New Price Targets

Several brokerages recently commented on LECO. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings raised shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. DA Davidson began coverage on shares of Lincoln Electric in a research report on Tuesday. They set a “buy” rating and a $320.00 price objective for the company. Morgan Stanley restated an “underweight” rating and set a $250.00 price objective on shares of Lincoln Electric in a report on Monday, May 4th. Finally, Barclays upped their target price on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $299.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LECO. Elyxium Wealth LLC bought a new stake in Lincoln Electric during the fourth quarter worth about $27,000. Summit Securities Group LLC bought a new position in Lincoln Electric in the 4th quarter valued at about $46,000. V Square Quantitative Management LLC bought a new position in Lincoln Electric in the 4th quarter valued at about $64,000. United Community Bank acquired a new position in shares of Lincoln Electric in the 4th quarter valued at approximately $65,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Lincoln Electric by 980.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 255 shares during the period. Institutional investors own 79.61% of the company’s stock.

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.