102,212 Shares in Lincoln Electric Holdings, Inc. $LECO Bought by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 102,212 Lincoln Electric shares worth approximately $3.6 million, while institutional investors and hedge funds collectively own 79.61% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $307.22; recent targets range from $283 to $340.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in adjusted EPS and $1.22 billion in revenue, up 12% year over year. The company also declared a quarterly dividend of $0.79 per share, representing a 1.1% annualized yield.

Deutsche Bank AG bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 102,212 shares of the industrial products company's stock, valued at approximately $3,613,000. Deutsche Bank AG owned approximately 0.19% of Lincoln Electric as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Diamant Asset Management Inc. boosted its position in shares of Lincoln Electric by 24,685.8% in the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock valued at $956,360,000 after purchasing an additional 3,824,077 shares during the period. Norges Bank purchased a new stake in shares of Lincoln Electric in the fourth quarter valued at about $415,155,000. William Blair Investment Management LLC acquired a new position in shares of Lincoln Electric during the fourth quarter worth about $146,135,000. AQR Capital Management LLC raised its holdings in Lincoln Electric by 439.8% during the second quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company's stock worth $123,691,000 after purchasing an additional 486,090 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Lincoln Electric in the 2nd quarter valued at approximately $108,330,000. Institutional investors and hedge funds own 79.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Morgan Stanley upgraded Lincoln Electric from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $257.00 to $283.00 in a research note on Monday, August 10th. Barclays upped their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Weiss Ratings raised shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. UBS Group started coverage on shares of Lincoln Electric in a report on Monday, August 10th. They issued a "buy" rating and a $340.00 target price for the company. Finally, DA Davidson initiated coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a "buy" rating and a $320.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $307.22.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.68% of the stock is currently owned by company insiders.

Lincoln Electric Stock Performance

Shares of LECO opened at $290.12 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The stock has a market cap of $15.81 billion, a P/E ratio of 28.98, a PEG ratio of 1.68 and a beta of 1.20. The company has a 50-day moving average of $266.89 and a two-hundred day moving average of $266.03. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business earned $2.60 earnings per share. The company's quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.1%. Lincoln Electric's dividend payout ratio (DPR) is presently 31.57%.

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.

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