Checchi Capital Advisers LLC Purchases New Shares in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Checchi Capital Advisers LLC acquired 1,062 shares of Lincoln Electric Holdings, valued at approximately $220,000, indicating institutional interest in the stock.
• Analysts have set new price targets for Lincoln Electric, with KeyCorp raising their target from $250.00 to $280.00 and Roth Capital setting a target of $279.00, reflecting positive market sentiment.
• Lincoln Electric recently reported an EPS of $2.60, exceeding estimates, alongside a 6.6% year-over-year revenue increase, highlighting strong financial performance.

Checchi Capital Advisers LLC acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,062 shares of the industrial products company's stock, valued at approximately $220,000.

Other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in Lincoln Electric by 980.8% in the 1st 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. Brooklyn Investment Group lifted its stake in Lincoln Electric by 279.6% in the 1st quarter. Brooklyn Investment Group now owns 353 shares of the industrial products company's stock worth $67,000 after acquiring an additional 260 shares in the last quarter. Signaturefd LLC lifted its stake in Lincoln Electric by 77.1% in the 1st quarter. Signaturefd LLC now owns 425 shares of the industrial products company's stock worth $80,000 after acquiring an additional 185 shares in the last quarter. YANKCOM Partnership lifted its stake in Lincoln Electric by 12.2% in the 1st quarter. YANKCOM Partnership now owns 553 shares of the industrial products company's stock worth $105,000 after acquiring an additional 60 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Lincoln Electric by 92.5% in the 1st quarter. UMB Bank n.a. now owns 749 shares of the industrial products company's stock worth $142,000 after acquiring an additional 360 shares in the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. KeyCorp increased their price objective on Lincoln Electric from $250.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Roth Capital started coverage on Lincoln Electric in a research note on Friday, September 5th. They set a "buy" rating and a $279.00 price target for the company. Stifel Nicolaus raised their price target on Lincoln Electric from $236.00 to $250.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Wall Street Zen downgraded Lincoln Electric from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Lincoln Electric in a research note on Saturday, September 27th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Lincoln Electric presently has an average rating of "Moderate Buy" and an average target price of $239.33.

Lincoln Electric Stock Performance

Shares of NASDAQ LECO opened at $236.42 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.68. The firm has a market cap of $13.05 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.63 and a beta of 1.20. The business's 50-day simple moving average is $239.66 and its 200-day simple moving average is $212.25. Lincoln Electric Holdings, Inc. has a 52 week low of $161.11 and a 52 week high of $249.19.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.28. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Lincoln Electric had a return on equity of 39.79% and a net margin of 12.27%.The firm's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 EPS. As a group, equities research analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.3%. Lincoln Electric's dividend payout ratio is currently 33.71%.

Insider Buying and Selling

In other Lincoln Electric news, EVP Jennifer I. Ansberry sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $242.18, for a total value of $726,540.00. Following the sale, the executive vice president owned 19,173 shares of the company's stock, valued at $4,643,317.14. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gabriel Bruno sold 7,305 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $242.42, for a total value of $1,770,878.10. Following the completion of the sale, the executive vice president directly owned 29,927 shares in the company, valued at $7,254,903.34. This trade represents a 19.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,692 shares of company stock worth $5,745,148. Insiders own 2.41% of the company's stock.

Lincoln Electric Profile

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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