Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Stock Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,146 shares of the industrial products company’s stock after selling 409 shares during the period. PNC Financial Services Group Inc.’s holdings in Lincoln Electric were worth $4,060,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LECO. EverSource Wealth Advisors LLC lifted its holdings in shares of Lincoln Electric by 174.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 68 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Lincoln Electric in the 2nd quarter worth approximately $28,000. UMB Bank n.a. lifted its holdings in shares of Lincoln Electric by 97.9% in the 3rd quarter. UMB Bank n.a. now owns 283 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 140 shares during the last quarter. Quarry LP lifted its holdings in shares of Lincoln Electric by 41.5% in the 2nd quarter. Quarry LP now owns 300 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 88 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Lincoln Electric by 308.5% in the 3rd quarter. Blue Trust Inc. now owns 335 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LECO. Stifel Nicolaus raised their price target on Lincoln Electric from $184.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. KeyCorp raised their target price on Lincoln Electric from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Robert W. Baird lowered their target price on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, StockNews.com cut Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $220.00.

Lincoln Electric Stock Up 2.4 %

Shares of LECO stock opened at $213.52 on Monday. Lincoln Electric Holdings, Inc. has a 1 year low of $169.51 and a 1 year high of $261.13. The stock has a market cap of $12.05 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14. The business’s fifty day moving average is $197.51 and its 200-day moving average is $196.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.20 and a current ratio of 1.85.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.09. The company had revenue of $983.76 million for the quarter, compared to analysts’ expectations of $988.07 million. Lincoln Electric had a return on equity of 40.03% and a net margin of 11.93%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the firm earned $2.40 EPS. Equities analysts expect that Lincoln Electric Holdings, Inc. will post 8.75 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. Lincoln Electric’s dividend payout ratio (DPR) is currently 33.89%.

Insider Transactions at Lincoln Electric

In other news, SVP Michael J. Whitehead sold 1,100 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.96, for a total value of $193,556.00. Following the completion of the sale, the senior vice president now owns 11,178 shares of the company’s stock, valued at $1,966,880.88. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.63% of the company’s stock.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.