First National Bank of Omaha Invests $1.64 Million in Lincoln Electric Holdings, Inc. $LECO

Key Points

• First National Bank of Omaha acquired 6,189 Lincoln Electric shares worth approximately $1.64 million, while institutional investors collectively own 79.61% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $307.22; recent targets range from $275 to $340.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue, while declaring a quarterly dividend of $0.79 per share, representing a 1.1% yield.

First National Bank of Omaha bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 6,189 shares of the industrial products company's stock, valued at approximately $1,643,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new stake in Lincoln Electric during the fourth quarter worth about $27,000. Summit Securities Group LLC bought a new position in shares of Lincoln Electric in the fourth quarter valued at approximately $46,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Lincoln Electric in the 2nd quarter worth approximately $48,000. Geneos Wealth Management Inc. boosted its holdings in shares of 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. Finally, United Community Bank bought a new stake in Lincoln Electric during the 4th quarter worth approximately $65,000. 79.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LECO has been the subject of several research analyst reports. Morgan Stanley upgraded Lincoln Electric from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $257.00 to $283.00 in a research report on Monday, August 10th. UBS Group started coverage on Lincoln Electric in a report on Monday, August 10th. They set a "buy" rating and a $340.00 target price on the stock. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research note on Friday, May 1st. Barclays lifted 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. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $307.22.

Lincoln Electric Stock Performance

LECO stock opened at $279.56 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The company has a 50 day moving average price of $265.21 and a 200 day moving average price of $265.77. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The stock has a market capitalization of $15.24 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.60 EPS. Analysts forecast that Lincoln Electric Holdings, Inc. will post 11.11 EPS for the current year.

Lincoln Electric Announces Dividend

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

Insider Transactions at Lincoln Electric

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

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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