Lincoln Electric Holdings, Inc. (NASDAQ:LECO) SVP Michael J. Whitehead sold 1,000 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $90.08, for a total transaction of $90,080.00. Following the completion of the sale, the senior vice president now owns 8,670 shares of the company’s stock, valued at approximately $780,993.60. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of NASDAQ:LECO opened at $90.39 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.77 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $5.37 billion, a PE ratio of 25.39, a P/E/G ratio of 2.56 and a beta of 1.23. Lincoln Electric Holdings, Inc. has a twelve month low of $59.29 and a twelve month high of $98.32. The company has a 50-day moving average price of $85.66 and a two-hundred day moving average price of $82.72.
Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Monday, July 27th. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.45. Lincoln Electric had a net margin of 7.93% and a return on equity of 33.45%. The firm had revenue of $590.70 million during the quarter, compared to analyst estimates of $556.14 million. During the same quarter last year, the business earned $1.28 earnings per share. The company’s quarterly revenue was down 24.0% on a year-over-year basis. Analysts anticipate that Lincoln Electric Holdings, Inc. will post 3.56 earnings per share for the current fiscal year.
Several research firms have recently issued reports on LECO. TheStreet upgraded shares of Lincoln Electric from a “c+” rating to a “b-” rating in a research note on Monday, June 22nd. Morgan Stanley upped their target price on shares of Lincoln Electric from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Barclays restated a “hold” rating and set a $75.00 price target on shares of Lincoln Electric in a research report on Thursday, April 16th. BidaskClub upgraded shares of Lincoln Electric from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Robert W. Baird increased their target price on shares of Lincoln Electric from $94.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $86.20.
Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Lincoln Electric by 24.6% in the first quarter. JPMorgan Chase & Co. now owns 4,019,394 shares of the industrial products company’s stock worth $277,338,000 after buying an additional 793,135 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Lincoln Electric by 6.1% in the first quarter. Janus Henderson Group PLC now owns 1,285,446 shares of the industrial products company’s stock valued at $88,696,000 after acquiring an additional 73,697 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Lincoln Electric in the first quarter valued at $80,954,000. Geode Capital Management LLC boosted its holdings in Lincoln Electric by 2.2% in the first quarter. Geode Capital Management LLC now owns 770,312 shares of the industrial products company’s stock valued at $53,151,000 after acquiring an additional 16,822 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Lincoln Electric by 13.1% in the first quarter. Boston Trust Walden Corp now owns 638,440 shares of the industrial products company’s stock valued at $44,053,000 after acquiring an additional 73,942 shares in the last quarter. 74.40% of the stock is currently owned by hedge funds and other institutional investors.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company 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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