Lincoln Electric Holdings, Inc. $LECO Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,981 shares of the industrial products company’s stock after selling 1,936 shares during the quarter. Hsbc Holdings PLC’s holdings in Lincoln Electric were worth $3,602,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Elyxium Wealth LLC acquired a new stake in shares of Lincoln Electric during the fourth quarter worth $27,000. Summit Securities Group LLC acquired a new stake in Lincoln Electric in the 4th quarter worth about $46,000. Geneos Wealth Management Inc. grew 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 buying an additional 255 shares during the period. V Square Quantitative Management LLC purchased a new stake in Lincoln Electric in the 4th quarter valued at about $64,000. Finally, United Community Bank acquired a new position in shares of Lincoln Electric during the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LECO shares. Barclays raised their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Morgan Stanley reaffirmed an “underweight” rating and set a $250.00 price target on shares of Lincoln Electric in a research report on Monday, May 4th. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a report on Friday, May 1st. Finally, Weiss Ratings raised shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lincoln Electric currently has a consensus rating of “Hold” and a consensus target price of $299.00.

Insider Activity at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the sale, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.68% of the stock is currently owned by corporate insiders.

Lincoln Electric Price Performance

Lincoln Electric stock opened at $266.56 on Monday. Lincoln Electric Holdings, Inc. has a 52-week low of $205.36 and a 52-week high of $310.00. The firm has a fifty day moving average of $263.73 and a 200-day moving average of $262.07. The firm has a market capitalization of $14.60 billion, a P/E ratio of 27.51, a PEG ratio of 1.64 and a beta of 1.21. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76.

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

Lincoln Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric’s dividend payout ratio (DPR) is 32.61%.

About Lincoln Electric

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.