Lincoln Electric (NASDAQ:LECO) Stock: Insider Steven Hedlund Sells 14,371 Shares

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) CEO Steven Hedlund sold 14,371 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $281.95, for a total value of $4,051,903.45. Following the completion of the sale, the chief executive officer directly owned 63,483 shares in the company, valued at $17,899,031.85. This trade represents a 18.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lincoln Electric Stock Performance

Shares of NASDAQ LECO opened at $284.55 on Wednesday. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The company has a market cap of $15.41 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.67 and a beta of 1.19. The business’s 50 day moving average is $268.08 and its two-hundred day moving average is $266.24. The company has a quick ratio of 1.18, a current ratio of 1.91 and a debt-to-equity ratio of 0.74.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Lincoln Electric had a return on equity of 40.06% and a net margin of 12.40%. Lincoln Electric’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 earnings per share. On average, equities analysts expect that Lincoln Electric Holdings, Inc. will post 11.38 EPS for the current year.

Lincoln Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, December 31st. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.79. Lincoln Electric’s dividend payout ratio is currently 30.30%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group increased their price target on shares of Lincoln Electric from $340.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Morgan Stanley boosted their price objective on shares of Lincoln Electric from $283.00 to $293.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 28th. Robert W. Baird upped their price objective on shares of Lincoln Electric from $317.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 28th. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Barclays lifted their target price on Lincoln Electric from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Lincoln Electric presently has an average rating of “Moderate Buy” and a consensus price target of $319.11.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LECO. Pictet Asset Management Holding SA boosted its stake in Lincoln Electric by 5.2% in the 3rd quarter. Pictet Asset Management Holding SA now owns 693,090 shares of the industrial products company’s stock valued at $183,383,000 after buying an additional 34,050 shares in the last quarter. Heritage Family Offices LLP acquired a new position in Lincoln Electric during the third quarter worth $34,000. Kestra Advisory Services LLC raised its stake in Lincoln Electric by 77.8% during the third quarter. Kestra Advisory Services LLC now owns 1,522 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 666 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in Lincoln Electric by 36.7% during the third quarter. Chicago Partners Investment Group LLC now owns 5,141 shares of the industrial products company’s stock worth $1,316,000 after acquiring an additional 1,379 shares in the last quarter. Finally, Provenance Wealth Advisors LLC bought a new position in shares of Lincoln Electric during the third quarter valued at $407,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.