Corient Private Wealth LP Takes $2.16 Million Position in Lincoln Electric Holdings, Inc. $LECO

Corient Private Wealth LP acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 61,140 shares of the industrial products company’s stock, valued at approximately $2,162,000.

Several other institutional investors have also recently made changes to their positions in LECO. BlackRock Inc. bought a new stake in Lincoln Electric during the 2nd quarter valued at approximately $656,165,000. Diamant Asset Management Inc. boosted its stake in Lincoln Electric by 24,685.8% in the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock worth $956,360,000 after purchasing an additional 3,824,077 shares during the period. Norges Bank bought a new position in Lincoln Electric in the 4th quarter worth approximately $415,155,000. Hsbc Holdings PLC purchased a new stake in Lincoln Electric during the 2nd quarter valued at approximately $52,700,000. Finally, Geode Capital Management LLC grew its holdings in Lincoln Electric by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock valued at $313,175,000 after buying an additional 6,070 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Analyst Ratings Changes

LECO has been the topic of several research analyst reports. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 target price on the stock. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $257.00 to $283.00 in a report on Monday, August 10th. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Finally, UBS Group began coverage on shares of Lincoln Electric in a report on Monday, August 10th. They set a “buy” rating and a $340.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Lincoln Electric presently has an average rating of “Moderate Buy” and an average target price of $307.22.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.68% of the stock is currently owned by company insiders.

Lincoln Electric Stock Up 1.5%

NASDAQ LECO opened at $272.59 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The company has a market capitalization of $14.86 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.61 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The stock has a 50 day moving average price of $267.57 and a 200-day moving average price of $265.47.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.12. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. Lincoln Electric’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.60 earnings per share. As a group, equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal 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 paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio (DPR) is presently 31.57%.

Lincoln Electric Company 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.