PNC Financial Services Group Inc. Sells 1,230 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

PNC Financial Services Group Inc. reduced its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,011 shares of the industrial products company’s stock after selling 1,230 shares during the period. PNC Financial Services Group Inc.’s holdings in Lincoln Electric were worth $5,439,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its position in Lincoln Electric by 43.1% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 50 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Lincoln Electric by 46.9% during the fourth quarter. Lindbrook Capital LLC now owns 188 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 60 shares during the period. Stratos Wealth Partners LTD. increased its holdings in Lincoln Electric by 3.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,825 shares of the industrial products company’s stock valued at $397,000 after purchasing an additional 66 shares during the period. Legacy Financial Advisors Inc. raised its position in Lincoln Electric by 3.3% during the 4th quarter. Legacy Financial Advisors Inc. now owns 2,144 shares of the industrial products company’s stock worth $466,000 after purchasing an additional 68 shares during the last quarter. Finally, VisionPoint Advisory Group LLC lifted its stake in shares of Lincoln Electric by 81.1% in the third quarter. VisionPoint Advisory Group LLC now owns 172 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 77 shares during the period. Institutional investors own 79.61% of the company’s stock.

Analyst Ratings Changes

LECO has been the subject of several recent analyst reports. Loop Capital decreased their target price on Lincoln Electric from $285.00 to $265.00 and set a “buy” rating for the company in a research note on Friday. Oppenheimer reiterated a “market perform” rating on shares of Lincoln Electric in a research note on Monday, April 29th. Robert W. Baird dropped their target price on Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday. KeyCorp dropped their target price on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Stifel Nicolaus decreased their price objective on Lincoln Electric from $241.00 to $238.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $225.29.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $202.47 on Friday. Lincoln Electric Holdings, Inc. has a one year low of $164.00 and a one year high of $261.13. The company’s 50-day moving average is $237.45 and its 200 day moving average is $226.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.24. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.08. The business had revenue of $981.20 million for the quarter, compared to the consensus estimate of $1.04 billion. Lincoln Electric had a net margin of 13.23% and a return on equity of 43.81%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $2.13 earnings per share. Sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 9.6 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, June 28th. Lincoln Electric’s dividend payout ratio (DPR) is presently 30.15%.

Insider Buying and Selling

In other Lincoln Electric news, SVP Geoffrey P. Allman sold 3,306 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $252.33, for a total transaction of $834,202.98. Following the completion of the transaction, the senior vice president now owns 9,150 shares in the company, valued at $2,308,819.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.63% of the stock is owned by company insiders.

Lincoln Electric Company Profile

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, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.