Ergoteles LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,247 shares of the industrial products company’s stock, valued at approximately $1,037,000.
Other institutional investors have also recently made changes to their positions in the company. Nuveen Asset Management LLC boosted its holdings in Lincoln Electric by 9.7% in the third quarter. Nuveen Asset Management LLC now owns 145,535 shares of the industrial products company’s stock valued at $18,297,000 after purchasing an additional 12,875 shares during the period. AXA S.A. purchased a new position in shares of Lincoln Electric in the 3rd quarter valued at about $855,000. Aviva PLC acquired a new position in shares of Lincoln Electric during the third quarter worth about $1,466,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Lincoln Electric during the third quarter worth approximately $326,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Lincoln Electric in the third quarter valued at approximately $561,000. Institutional investors and hedge funds own 73.25% of the company’s stock.
Insider Buying and Selling
In other Lincoln Electric news, CFO Gabriel Bruno sold 2,482 shares of Lincoln Electric stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $150.15, for a total value of $372,672.30. Following the transaction, the chief financial officer now directly owns 22,507 shares in the company, valued at $3,379,426.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.16% of the stock is owned by company insiders.
Lincoln Electric Stock Down 0.2 %
Lincoln Electric (NASDAQ:LECO – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.90 by $0.04. The company had revenue of $930.93 million for the quarter, compared to analyst estimates of $924.20 million. Lincoln Electric had a return on equity of 52.02% and a net margin of 12.56%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 earnings per share. Analysts anticipate that Lincoln Electric Holdings, Inc. will post 8.61 EPS for the current year.
Lincoln Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be given a $0.64 dividend. The ex-dividend date is Thursday, March 30th. This represents a $2.56 annualized dividend and a yield of 1.54%. Lincoln Electric’s dividend payout ratio (DPR) is 31.80%.
Analysts Set New Price Targets
LECO has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on shares of Lincoln Electric from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, January 20th. Morgan Stanley raised their price target on Lincoln Electric from $149.00 to $151.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 22nd. Robert W. Baird lifted their price target on Lincoln Electric from $174.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Oppenheimer increased their price objective on Lincoln Electric from $167.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, January 26th. Finally, StockNews.com cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, February 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lincoln Electric presently has an average rating of “Hold” and a consensus target price of $164.25.
About Lincoln Electric
Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.
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