Orange Investment Advisors Inc. cut its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 20.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,886 shares of the industrial products company’s stock after selling 3,500 shares during the period. Orange Investment Advisors Inc.’s holdings in Lincoln Electric were worth $3,459,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Diamant Asset Management Inc. raised its position in Lincoln Electric by 24,685.8% in the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock valued at $956,360,000 after purchasing an additional 3,824,077 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Lincoln Electric by 4.1% during the third quarter. Victory Capital Management Inc. now owns 1,850,816 shares of the industrial products company’s stock worth $436,478,000 after purchasing an additional 72,826 shares during the last quarter. Norges Bank bought a new stake in shares of Lincoln Electric during the fourth quarter worth about $415,155,000. Geode Capital Management LLC increased its stake in shares of Lincoln Electric by 0.5% in the fourth 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 during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Lincoln Electric by 14.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company’s stock valued at $306,767,000 after buying an additional 158,305 shares during the period. 79.61% of the stock is currently owned by institutional investors.
Lincoln Electric Price Performance
Shares of LECO opened at $266.56 on Monday. The business has a 50-day moving average of $263.73 and a 200-day moving average of $262.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a 1 year low of $205.36 and a 1 year high of $310.00.
Lincoln Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 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 Tuesday, June 30th. Lincoln Electric’s dividend payout ratio is currently 32.61%.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Barclays lifted their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Morgan Stanley reiterated an “underweight” rating and set a $250.00 price target on shares of Lincoln Electric in a report on Monday, May 4th. Finally, Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research note on Friday, May 1st. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $299.00.
Check Out Our Latest Stock Analysis on LECO
Insider Activity at Lincoln Electric
In other news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.68% of the company’s stock.
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.
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