Lincoln Electric Holdings, Inc. $LECO Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 24.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,954 shares of the industrial products company’s stock after purchasing an additional 2,368 shares during the period. PNC Financial Services Group Inc.’s holdings in Lincoln Electric were worth $2,978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in Lincoln Electric by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after buying an additional 197 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Lincoln Electric by 553.4% during the first quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 963 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Lincoln Electric by 8.9% during the first quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock worth $68,582,000 after acquiring an additional 29,505 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Lincoln Electric by 8.7% during the first 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 acquiring an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 255 shares in the last quarter. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric Stock Up 4.0%

Shares of Lincoln Electric stock opened at $267.25 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. The firm has a market cap of $14.64 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.58 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The business has a 50-day moving average price of $260.11 and a 200 day moving average price of $263.67.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.08. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.Lincoln Electric’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 earnings per share. On average, sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 10.85 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is currently 32.61%.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction on 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 transaction, the executive vice president owned 9,319 shares of the company’s stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on LECO. Barclays increased their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley upped their target price on Lincoln Electric from $250.00 to $253.00 and gave the company an “underweight” rating in a research report on Friday, July 17th. Wall Street Zen cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. Finally, DA Davidson assumed coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target for the company. Five 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $299.38.

Lincoln Electric 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.