Geode Capital Management LLC Has $313.18 Million Stock Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Geode Capital Management slightly increased its Lincoln Electric stake in the fourth quarter, owning 1,306,641 shares worth about $313.2 million, or roughly 2.37% of the company.
• Lincoln Electric reported strong quarterly results, with EPS of $2.50 beating estimates and revenue of $1.12 billion rising 11.7% year over year.
• The company declared a quarterly dividend of $0.79 per share, while analysts currently have a consensus rating of Hold with an average price target of $296.

Geode Capital Management LLC increased its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,306,641 shares of the industrial products company's stock after buying an additional 6,070 shares during the quarter. Geode Capital Management LLC owned about 2.37% of Lincoln Electric worth $313,175,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake 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 during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Lincoln Electric by 553.4% in the first quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company's stock valued at $215,000 after purchasing an additional 963 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Lincoln Electric by 8.9% in the first quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company's stock valued at $68,582,000 after purchasing an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Lincoln Electric by 8.7% in the first 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 valued at $26,017,000 after purchasing an additional 10,961 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 255 shares in the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Performance

NASDAQ:LECO opened at $252.17 on Tuesday. 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 business has a fifty day simple moving average of $258.02 and a two-hundred day simple moving average of $257.76. Lincoln Electric Holdings, Inc. has a 1 year low of $188.65 and a 1 year high of $310.00. The company has a market capitalization of $13.82 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.59 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) 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 business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $2.16 earnings per share. The business's revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 10.81 earnings per share for the current year.

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric's dividend payout ratio (DPR) is currently 32.61%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LECO. KeyCorp raised their target price on Lincoln Electric from $280.00 to $340.00 and gave the company an "overweight" rating in a report on Friday, February 13th. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a research report on Friday, May 1st. Wall Street Zen downgraded Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Weiss Ratings raised Lincoln Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 16th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $297.00 price target (up from $285.00) on shares of Lincoln Electric in a research report on Tuesday, February 3rd. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $296.00.

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.

Want to see what other hedge funds are holding LECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.