Geode Capital Management LLC lifted its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,204,549 shares of the industrial products company's stock after purchasing an additional 61,640 shares during the quarter. Geode Capital Management LLC owned 2.13% of Lincoln Electric worth $231,345,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LECO. Avior Wealth Management LLC increased its stake in Lincoln Electric by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 1,644 shares of the industrial products company's stock worth $316,000 after acquiring an additional 48 shares during the period. CIBC Asset Management Inc increased its position in shares of Lincoln Electric by 3.2% in the third quarter. CIBC Asset Management Inc now owns 1,646 shares of the industrial products company's stock worth $316,000 after purchasing an additional 51 shares during the period. Ritholtz Wealth Management raised its stake in Lincoln Electric by 4.8% in the third quarter. Ritholtz Wealth Management now owns 1,303 shares of the industrial products company's stock valued at $250,000 after purchasing an additional 60 shares in the last quarter. Greenleaf Trust lifted its position in Lincoln Electric by 3.1% during the third quarter. Greenleaf Trust now owns 2,366 shares of the industrial products company's stock worth $454,000 after purchasing an additional 71 shares during the period. Finally, Quarry LP grew its stake in Lincoln Electric by 41.5% during the second quarter. Quarry LP now owns 300 shares of the industrial products company's stock worth $57,000 after buying an additional 88 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of LECO opened at $203.80 on Friday. The stock has a market cap of $11.50 billion, a PE ratio of 24.32, a PEG ratio of 1.59 and a beta of 1.16. Lincoln Electric Holdings, Inc. has a 12-month low of $169.51 and a 12-month high of $261.13. The company has a quick ratio of 1.20, a current ratio of 1.85 and a debt-to-equity ratio of 0.86. The business has a 50-day simple moving average of $204.78 and a two-hundred day simple moving average of $195.77.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.09. The company had revenue of $983.76 million during the quarter, compared to analyst estimates of $988.07 million. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 earnings per share. Analysts anticipate that Lincoln Electric Holdings, Inc. will post 8.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.75 dividend. This is an increase from Lincoln Electric's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.00 annualized dividend and a yield of 1.47%. Lincoln Electric's dividend payout ratio is presently 33.89%.
A number of analysts have recently weighed in on the stock. Robert W. Baird cut their price target on shares of Lincoln Electric from $220.00 to $212.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. KeyCorp raised their target price on Lincoln Electric from $210.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. StockNews.com raised Lincoln Electric from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th. Finally, Stifel Nicolaus raised their price objective on Lincoln Electric from $195.00 to $216.00 and gave the company a "hold" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.17.
Check Out Our Latest Report on Lincoln Electric
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.
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