Deutsche Bank AG Buys Shares of 6,025 Lincoln Electric Holdings, Inc. $LECO

Key Points

• Deutsche Bank initiated a position in Lincoln Electric with 6,025 shares valued at approximately $1.6 million. Institutional investors collectively own 79.61% of the company.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $307.22; recent firms raised ratings or initiated coverage with targets ranging from $283 to $340.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 EPS and $1.22 billion in revenue, while revenue grew 12% year over year. The company also declared a quarterly dividend of $0.79 per share, or a 1.1% annualized yield.

Deutsche Bank AG purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,025 shares of the industrial products company's stock, valued at approximately $1,600,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LECO. Elyxium Wealth LLC purchased a new stake in shares of Lincoln Electric in the fourth quarter worth $27,000. Summit Securities Group LLC purchased a new position in shares of Lincoln Electric in the 4th quarter worth about $46,000. State of Wyoming bought a new position in Lincoln Electric in the 2nd quarter worth about $69,000. Geneos Wealth Management Inc. boosted 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 purchasing an additional 255 shares in the last quarter. Finally, Root Financial Partners LLC grew its position in Lincoln Electric by 118.8% during the 1st quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company's stock valued at $87,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on LECO. 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. Wall Street Zen raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Barclays boosted their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $257.00 to $283.00 in a research report on Monday, August 10th. Finally, DA Davidson assumed coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a "buy" rating and a $320.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $307.22.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 9,319 shares of the company's stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.68% of the company's stock.

Lincoln Electric Price Performance

Shares of Lincoln Electric stock opened at $284.89 on Friday. The stock has a market cap of $15.53 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.74 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The stock's fifty day moving average is $267.37 and its 200 day moving average is $266.10. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.Lincoln Electric's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 earnings per share. Sell-side analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Announces Dividend

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

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.

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