Global Retirement Partners LLC Raises Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Posted by Defense World Staff on Aug 14th, 2023

Global Retirement Partners LLC raised its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 28.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 401 shares of the industrial products company’s stock after purchasing an additional 88 shares during the quarter. Global Retirement Partners LLC’s holdings in Lincoln Electric were worth $68,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LECO. Norges Bank purchased a new stake in shares of Lincoln Electric in the fourth quarter worth approximately $96,738,000. Macquarie Group Ltd. grew its holdings in shares of Lincoln Electric by 359.8% in the fourth quarter. Macquarie Group Ltd. now owns 477,606 shares of the industrial products company’s stock valued at $69,009,000 after acquiring an additional 373,730 shares in the last quarter. State Street Corp grew its holdings in shares of Lincoln Electric by 11.8% in the first quarter. State Street Corp now owns 2,859,342 shares of the industrial products company’s stock valued at $395,604,000 after acquiring an additional 302,002 shares in the last quarter. CM Wealth Advisors LLC bought a new position in shares of Lincoln Electric in the first quarter valued at approximately $30,587,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Lincoln Electric by 33.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 730,877 shares of the industrial products company’s stock valued at $105,604,000 after acquiring an additional 184,477 shares in the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lincoln Electric

In related news, SVP Peter M. Pletcher sold 1,845 shares of Lincoln Electric stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $190.92, for a total transaction of $352,247.40. Following the transaction, the senior vice president now directly owns 4,429 shares of the company’s stock, valued at $845,584.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Lincoln Electric news, EVP Jennifer I. Ansberry sold 8,962 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $200.27, for a total value of $1,794,819.74. Following the completion of the transaction, the executive vice president now owns 19,570 shares in the company, valued at $3,919,283.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Peter M. Pletcher sold 1,845 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $190.92, for a total transaction of $352,247.40. Following the sale, the senior vice president now directly owns 4,429 shares of the company’s stock, valued at approximately $845,584.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,017 shares of company stock valued at $21,014,732. Insiders own 2.90% of the company’s stock.

Lincoln Electric Price Performance

LECO stock opened at $189.28 on Monday. The firm has a 50 day moving average price of $196.49 and a 200-day moving average price of $177.55. Lincoln Electric Holdings, Inc. has a 52-week low of $120.01 and a 52-week high of $210.86. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.39 and a beta of 1.16. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.03.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.12. Lincoln Electric had a net margin of 12.04% and a return on equity of 46.60%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business earned $2.18 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 9.09 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Saturday, September 30th will be given a dividend of $0.64 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.35%. Lincoln Electric’s payout ratio is 31.26%.

Analyst Ratings Changes

LECO has been the subject of several recent analyst reports. 888 reaffirmed a “maintains” rating on shares of Lincoln Electric in a report on Friday, April 28th. Robert W. Baird increased their price objective on Lincoln Electric from $184.00 to $200.00 in a report on Tuesday, May 30th. CL King started coverage on Lincoln Electric in a report on Tuesday, May 16th. They set a “neutral” rating for the company. Barclays increased their price objective on Lincoln Electric from $145.00 to $185.00 in a report on Tuesday, May 2nd. Finally, StockNews.com raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $187.00.

Check Out Our Latest Analysis on LECO

About Lincoln Electric

(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, as well as consumables used in the brazing and soldering alloys market.