Executive Wealth Management LLC increased its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 18.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,466 shares of the industrial products company’s stock after acquiring an additional 2,252 shares during the quarter. Executive Wealth Management LLC’s holdings in Lincoln Electric were worth $1,191,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Keybank National Association OH increased its stake in Lincoln Electric by 0.8% in the 1st quarter. Keybank National Association OH now owns 1,362,557 shares of the industrial products company’s stock worth $114,278,000 after buying an additional 10,328 shares during the period. Janus Henderson Group PLC increased its stake in Lincoln Electric by 4.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,217,080 shares of the industrial products company’s stock worth $100,190,000 after buying an additional 55,850 shares during the period. Principal Financial Group Inc. grew its holdings in Lincoln Electric by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,020,567 shares of the industrial products company’s stock worth $85,597,000 after acquiring an additional 7,525 shares in the last quarter. Geode Capital Management LLC grew its holdings in Lincoln Electric by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 767,756 shares of the industrial products company’s stock worth $60,537,000 after acquiring an additional 39,548 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in Lincoln Electric by 5.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 547,542 shares of the industrial products company’s stock worth $45,923,000 after acquiring an additional 29,917 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on the stock. BidaskClub cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Robert W. Baird upgraded shares of Lincoln Electric from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $93.00 to $100.00 in a report on Friday, July 12th. Finally, Zacks Investment Research upgraded shares of Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 target price on the stock in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Lincoln Electric presently has a consensus rating of “Hold” and an average price target of $95.56.
Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). Lincoln Electric had a return on equity of 36.16% and a net margin of 10.42%. The business had revenue of $777.01 million for the quarter, compared to the consensus estimate of $786.03 million. During the same quarter in the previous year, the company earned $1.22 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 5.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, September 27th. Lincoln Electric’s dividend payout ratio is currently 39.00%.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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