2 weeks Ago By ABMN Staff
Envestnet Asset Management Inc. boosted its stake in shares of Lincoln Electric Holdings, Inc. ( NASDAQ:LECO – Free Report ) by 0.
1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 131,025 shares of the industrial products company’s stock after buying an additional 158 shares during the period. Envestnet Asset Management Inc.
’s holdings in Lincoln Electric were worth $24,563,000 at the end of the most recent reporting period. A number of other hedge funds also recently bought and sold shares of LECO. Vanguard Group Inc.
raised its holdings in shares of Lincoln Electric by 0.3% during the fourth quarter. Vanguard Group Inc.
now owns 5,601,734 shares of the industrial products company’s stock valued at $1,050,157,000 after acquiring an additional 18,805 shares during the period. JPMorgan Chase & Co. grew its position in Lincoln Electric by 15.
6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,735,527 shares of the industrial products company’s stock worth $325,359,000 after purchasing an additional 234,515 shares in the last quarter.
Norges Bank acquired a new stake in Lincoln Electric during the 4th quarter valued at $307,344,000. Geode Capital Management LLC lifted its holdings in shares of Lincoln Electric by 2.6% in the fourth quarter.
Geode Capital Management LLC now owns 1,235,582 shares of the industrial products company’s stock valued at $231,691,000 after purchasing an additional 31,033 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Lincoln Electric by 5.
9% in the fourth quarter. Victory Capital Management Inc. now owns 1,163,119 shares of the industrial products company’s stock worth $218,050,000 after buying an additional 65,154 shares during the period.
79.61% of the stock is owned by hedge funds and other institutional investors. Insiders Place Their Bets In related news, CEO Steven B.
Hedlund sold 21,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $215.47, for a total value of $4,536,505.
38. Following the transaction, the chief executive officer now directly owns 54,660 shares of the company’s stock, valued at approximately $11,777,590.20.
This trade represents a 27.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link .
Insiders own 2.63% of the company’s stock. Lincoln Electric Trading Up 2.
4 % Lincoln Electric ( NASDAQ:LECO – Get Free Report ) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $2.57 EPS for the quarter, topping the consensus estimate of $2.
03 by $0.54. Lincoln Electric had a net margin of 11.
63% and a return on equity of 40.19%. The company had revenue of $1.
02 billion for the quarter, compared to analyst estimates of $995.94 million. On average, research analysts predict that Lincoln Electric Holdings, Inc.
will post 9.36 earnings per share for the current fiscal year. Lincoln Electric Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th.
Shareholders of record on Monday, March 31st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, March 31st.
This represents a $3.00 annualized dividend and a yield of 1.66%.
Lincoln Electric’s dividend payout ratio (DPR) is currently 36.81%. Analyst Upgrades and Downgrades Several research firms recently weighed in on LECO.
KeyCorp upped their price target on Lincoln Electric from $230.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, February 14th.
Stifel Nicolaus reduced their price target on shares of Lincoln Electric from $216.00 to $211.00 and set a “hold” rating for the company in a research report on Friday, January 24th.
Finally, Barclays boosted their price objective on shares of Lincoln Electric from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th.
Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Lincoln Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.60.
View Our Latest Analysis on LECO Lincoln Electric Company Profile ( Free Report ) 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.
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