Lincoln Electric Holdings, Inc. $LECO Stock Sold by Keybank National Association OH

Keybank National Association OH decreased its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 518,602 shares of the industrial products company’s stock after selling 13,406 shares during the quarter. Keybank National Association OH owned about 0.96% of Lincoln Electric worth $137,212,000 at the end of the most recent quarter.

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

Lincoln Electric Stock Down 0.0%

Shares of LECO stock opened at $284.42 on Wednesday. The stock has a market cap of $15.40 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 1.67 and a beta of 1.19. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The stock has a fifty day moving average price of $267.47 and a 200 day moving average price of $266.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.91 and a quick ratio of 1.18.

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

Lincoln Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.87 per share. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.79. The ex-dividend date is Thursday, December 31st. This represents a $3.48 annualized dividend and a dividend yield of 1.2%. Lincoln Electric’s dividend payout ratio (DPR) is presently 30.30%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LECO shares. Barclays raised their price target on shares of Lincoln Electric from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Stifel Nicolaus upped their price objective on shares of Lincoln Electric from $271.00 to $290.00 and gave the company a “hold” rating in a research report on Wednesday, October 28th. Robert W. Baird increased their target price on shares of Lincoln Electric from $317.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, UBS Group boosted their price target on Lincoln Electric from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.11.

Insider Buying and Selling at Lincoln Electric

In related news, CEO Steven B. Hedlund sold 14,371 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $281.95, for a total value of $4,051,903.45. Following the sale, the chief executive officer owned 63,483 shares of the company’s stock, valued at $17,899,031.85. The trade was a 18.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.68% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc. is a manufacturer of welding, cutting and automation products. Its offerings include arc-welding equipment and consumables, plasma and oxyfuel cutting systems, robotic welding solutions and related automation technologies, as well as brazing and soldering products. Founded in 1895 by John C. Lincoln, the company serves customers across a range of industries, including manufacturing, infrastructure, energy and transportation. Its products and services are sold in markets around the world through its international operations and distribution network.