Fifth Third Bancorp Has $3.72 Million Stock Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Fifth Third Bancorp boosted its Lincoln Electric stake by 1,705.9% in the first quarter, ending with 14,935 shares valued at about $3.72 million.
• Lincoln Electric reported better-than-expected quarterly results, with EPS of $2.50 versus the $2.42 consensus and revenue of $1.12 billion, up 11.7% year over year.
• Analyst sentiment is mixed: while several firms maintain or raised bullish targets, the stock currently has a Hold consensus rating with an average price target of $299.38.

Fifth Third Bancorp increased its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 1,705.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,935 shares of the industrial products company's stock after acquiring an additional 14,108 shares during the period. Fifth Third Bancorp's holdings in Lincoln Electric were worth $3,720,000 at the end of the most recent reporting period.

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

Lincoln Electric Stock Performance

Lincoln Electric stock opened at $252.74 on Monday. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The company's fifty day moving average price is $261.61 and its two-hundred day moving average price is $263.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.55 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The business's quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts forecast that Lincoln Electric Holdings, Inc. will post 10.84 earnings per share for the current fiscal year.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on LECO shares. Barclays increased their price objective on 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 their price target on Lincoln Electric from $250.00 to $253.00 and gave the stock an "underweight" rating in a research note on Friday. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a report on Friday, May 1st. Wall Street Zen lowered Lincoln Electric from a "buy" rating to a "hold" rating in a report on Monday. Finally, DA Davidson started coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lincoln Electric has an average rating of "Hold" and a consensus price target 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.

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