Wood Tarver Financial Group LLC Takes Position in Lincoln Electric Holdings, Inc. $LECO

Wood Tarver Financial Group LLC acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,758 shares of the industrial products company’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LECO. NewEdge Advisors LLC boosted its holdings in Lincoln Electric by 8.6% in 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 holdings in Lincoln Electric by 553.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 963 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 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 worth $68,582,000 after purchasing an additional 29,505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Lincoln Electric by 8.7% in 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 period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of 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 purchasing an additional 255 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on LECO. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. UBS Group began coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target on the stock. DA Davidson initiated coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target for the company. Finally, Barclays lifted their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lincoln Electric has an average rating of “Moderate Buy” and a consensus target price of $307.22.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $282.24 on Tuesday. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The stock’s 50 day moving average is $266.35 and its 200-day moving average is $266.03. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.69 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.60 EPS. Sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is presently 31.57%.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The shares were 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.68% 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.