Lincoln Electric Holdings, Inc. $LECO Stock: Soltis Investment Advisors LLC Raises Position

Soltis Investment Advisors LLC increased its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 430.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,218 shares of the industrial products company’s stock after buying an additional 3,423 shares during the period. Soltis Investment Advisors LLC’s holdings in Lincoln Electric were worth $1,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Lincoln Electric during the second quarter worth approximately $1,431,181,000. Hsbc Holdings PLC purchased a new stake in Lincoln Electric in the 2nd quarter worth approximately $52,700,000. Algebris UK Ltd. acquired a new position in Lincoln Electric in the 2nd quarter valued at $44,811,000. Caisse de depot et placement du Quebec acquired a new position in Lincoln Electric in the 2nd quarter valued at $26,148,000. Finally, Advisors Capital Management LLC purchased a new position in shares of Lincoln Electric during the 2nd quarter worth $21,914,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday. Barclays upped their target price on Lincoln Electric from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley upped their target price on Lincoln Electric from $283.00 to $293.00 and gave the company an “equal weight” rating in a research note on Wednesday. Robert W. Baird increased their target price on Lincoln Electric from $317.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Weiss Ratings lowered Lincoln Electric from a “buy (b)” rating to a “hold (c)” rating in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.11.

Lincoln Electric Price Performance

Lincoln Electric stock opened at $276.92 on Friday. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The firm has a 50 day moving average price of $267.96 and a 200 day moving average price of $265.93. The company has a market cap of $15.00 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.62 and a beta of 1.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.91.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.81 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a net margin of 12.40% and a return on equity of 40.06%. Lincoln Electric’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.47 earnings per share. Sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 11.38 earnings per share for the current year.

Lincoln Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $3.48 annualized dividend and a dividend yield of 1.3%. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.79. Lincoln Electric’s dividend payout ratio is presently 30.30%.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.