Independent Financial Group LLC Invests $683,000 in Lincoln Electric Holdings, Inc. $LECO

Independent Financial Group LLC bought a new stake in shares of 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 firm bought 2,742 shares of the industrial products company’s stock, valued at approximately $683,000.

A number of other institutional investors have also recently added to or reduced their stakes in LECO. Elyxium Wealth LLC acquired a new position in Lincoln Electric during the fourth quarter worth $27,000. Summit Securities Group LLC acquired a new stake in shares of Lincoln Electric in the fourth quarter valued at about $46,000. Geneos Wealth Management Inc. grew its position in shares of Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 255 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Lincoln Electric during the fourth quarter worth about $64,000. Finally, United Community Bank purchased a new stake in shares of Lincoln Electric during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Stock Performance

LECO opened at $249.17 on Thursday. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The firm has a market capitalization of $13.65 billion, a PE ratio of 25.71, a PEG ratio of 1.53 and a beta of 1.20. 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’s 50-day moving average price is $260.43 and its 200 day moving average price is $263.40.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share 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% on a year-over-year basis. During the same period last year, the company posted $2.16 EPS. As a group, sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 10.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LECO. Barclays raised their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Jefferies Financial Group reissued a “hold” rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Morgan Stanley lifted their price target on Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a research note on Friday, July 17th. Finally, Wall Street Zen cut Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $299.38.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction 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 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 filing with the SEC, which is accessible through the SEC website. Insiders own 1.68% of the company’s stock.

Lincoln Electric Profile

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.