Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Get Free Report) CEO Steven Hedlund sold 14,371 shares of the company's stock in a transaction on Friday, October 30th. The shares were sold at an average price of $281.95, for a total transaction of $4,051,903.45. Following the completion of the transaction, the chief executive officer owned 63,483 shares of the company's stock, valued at $17,899,031.85. This represents a 18.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Lincoln Electric Stock Performance
Shares of LECO stock opened at $285.50 on Tuesday. The stock's 50-day moving average is $268.04 and its two-hundred day moving average is $266.10. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.65 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.91.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.17. Lincoln Electric had a return on equity of 40.06% and a net margin of 12.40%. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. The business's revenue was up 15.1% compared to the same quarter last year. Analysts predict that Lincoln Electric Holdings, Inc. will post 11.38 earnings per share for the current year.
Lincoln Electric Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a dividend of $0.87 per share. The ex-dividend date is Thursday, December 31st. This represents a $3.48 dividend on an annualized basis and a yield of 1.2%. This is a boost from Lincoln Electric's previous quarterly dividend of $0.79. Lincoln Electric's dividend payout ratio (DPR) is 30.30%.
Institutional Investors Weigh In On Lincoln Electric
Hedge funds have recently made changes to their positions in the business. Transamerica Financial Advisors LLC acquired a new position in Lincoln Electric in the 2nd quarter valued at about $26,000. Financial Network Wealth Advisors LLC raised its stake in Lincoln Electric by 194.1% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 100 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 66 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in Lincoln Electric during the 2nd quarter worth approximately $29,000. Latitude Advisors LLC acquired a new stake in Lincoln Electric during the 3rd quarter worth approximately $32,000. Finally, Heritage Family Offices LLP acquired a new stake in Lincoln Electric during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 79.61% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on LECO. Robert W. Baird lifted their price target on Lincoln Electric from $317.00 to $322.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 28th. Wall Street Zen raised Lincoln Electric from a "hold" rating to a "buy" rating in a report on Saturday. Stifel Nicolaus raised their target price on shares of Lincoln Electric from $271.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, October 28th. Barclays lifted their target price on shares of Lincoln Electric from $300.00 to $350.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Morgan Stanley upped their price target on shares of Lincoln Electric from $283.00 to $293.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 28th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $319.11.
View Our Latest Report on LECO
About Lincoln Electric
(
Get Free Report)
Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.
Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.
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