Insider Selling: Lincoln Electric (NASDAQ:LECO) EVP Sells $232,214.45 in Stock

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) EVP Michael Whitehead sold 845 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Lincoln Electric Trading Up 0.1%

Shares of LECO opened at $275.37 on Friday. Lincoln Electric Holdings, Inc. has a twelve month low of $199.13 and a twelve month high of $310.00. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $15.09 billion, a P/E ratio of 28.42, a PEG ratio of 1.70 and a beta of 1.21. The firm’s 50-day moving average is $262.47 and its two-hundred day moving average is $260.89.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $2.16 EPS. On average, research analysts predict that Lincoln Electric Holdings, Inc. will post 10.82 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 annualized dividend and a yield of 1.1%. Lincoln Electric’s payout ratio is currently 32.61%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LECO. Barclays raised their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research report on Friday, May 1st. Morgan Stanley reissued an “underweight” rating and issued a $250.00 price objective on shares of Lincoln Electric in a research note on Monday, May 4th. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price for the company. Finally, Jefferies Financial Group restated a “hold” rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $299.00.

Hedge Funds Weigh In On Lincoln Electric

Several hedge funds have recently bought and sold shares of LECO. NewEdge Advisors LLC boosted its stake in shares of Lincoln Electric by 8.6% during the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock valued at $468,000 after acquiring an additional 197 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Lincoln Electric by 553.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 963 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Lincoln Electric by 8.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock valued at $68,582,000 after purchasing an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Lincoln Electric by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock worth $26,017,000 after purchasing an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.