Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Shares Sold by Diversified Trust Co

Posted by on Mar 26th, 2023

Diversified Trust Co trimmed its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 15.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,282 shares of the industrial products company’s stock after selling 966 shares during the period. Diversified Trust Co’s holdings in Lincoln Electric were worth $763,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Lincoln Electric by 1.1% in the third quarter. Vanguard Group Inc. now owns 5,954,544 shares of the industrial products company’s stock worth $748,605,000 after purchasing an additional 63,007 shares in the last quarter. BlackRock Inc. lifted its holdings in Lincoln Electric by 0.7% in the first quarter. BlackRock Inc. now owns 5,200,068 shares of the industrial products company’s stock worth $716,620,000 after acquiring an additional 38,059 shares during the last quarter. State Street Corp lifted its holdings in Lincoln Electric by 2.1% in the third quarter. State Street Corp now owns 2,958,667 shares of the industrial products company’s stock worth $373,594,000 after acquiring an additional 59,991 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Lincoln Electric by 4.0% in the third quarter. Victory Capital Management Inc. now owns 1,844,640 shares of the industrial products company’s stock worth $231,908,000 after acquiring an additional 70,254 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in Lincoln Electric by 1.4% in the third quarter. Boston Trust Walden Corp now owns 765,281 shares of the industrial products company’s stock worth $96,212,000 after acquiring an additional 10,194 shares during the last quarter. 73.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their target price 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. Robert W. Baird raised their target price on shares of Lincoln Electric from $174.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. StockNews.com assumed coverage on shares of Lincoln Electric in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Oppenheimer raised their target price on shares of Lincoln Electric from $167.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, January 26th. Finally, Morgan Stanley raised their target price on shares of Lincoln Electric from $149.00 to $151.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $164.25.

Lincoln Electric Stock Performance

LECO opened at $160.77 on Friday. The business’s 50 day moving average is $166.86 and its 200-day moving average is $149.67. The stock has a market cap of $9.26 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14. The company has a current ratio of 1.83, a quick ratio of 1.05 and a debt-to-equity ratio of 1.07. Lincoln Electric Holdings, Inc. has a twelve month low of $118.17 and a twelve month high of $176.52.

Lincoln Electric (NASDAQ:LECO – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.04. The company had revenue of $930.93 million for the quarter, compared to analysts’ expectations of $924.20 million. Lincoln Electric had a return on equity of 52.02% and a net margin of 12.56%. The business’s revenue for the quarter 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. On average, analysts predict that Lincoln Electric Holdings, Inc. will post 8.66 earnings per share for the current year.

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.56 annualized dividend and a yield of 1.59%. Lincoln Electric’s payout ratio is 31.80%.

About Lincoln Electric

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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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Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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