Global Retirement Partners LLC Invests $148,000 in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Global Retirement Partners initiated a $148,000 position in Lincoln Electric during the second quarter, buying 4,176 shares. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue, with revenue up 12% year over year. The company declared a quarterly dividend of $0.79 per share, equivalent to a 1.1% annual yield.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $307.22; recent targets range from $300 to $340.

Global Retirement Partners LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,176 shares of the industrial products company's stock, valued at approximately $148,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LECO. Diamant Asset Management Inc. boosted its position in Lincoln Electric by 24,685.8% in the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock worth $956,360,000 after purchasing an additional 3,824,077 shares during the last quarter. Norges Bank bought a new position in Lincoln Electric in the 4th quarter valued at $415,155,000. Geode Capital Management LLC increased its position in shares of Lincoln Electric by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company's stock valued at $313,175,000 after purchasing an additional 6,070 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Lincoln Electric by 14.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company's stock valued at $306,767,000 after purchasing an additional 158,305 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Lincoln Electric by 32.3% during the 4th quarter. AQR Capital Management LLC now owns 961,732 shares of the industrial products company's stock worth $230,469,000 after purchasing an additional 234,783 shares during the period. 79.61% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Trading Up 1.8%

Shares of LECO stock opened at $281.82 on Friday. The company's fifty day simple moving average is $266.06 and its two-hundred day simple moving average is $265.97. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.69 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.12. The firm 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%.The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company earned $2.60 earnings per share. As a group, 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 issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. Lincoln Electric's dividend payout ratio is 31.57%.

Insider Transactions at Lincoln Electric

In other Lincoln Electric 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LECO. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price target on the stock. UBS Group started coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They issued a "buy" rating and a $340.00 price objective on the stock. Barclays boosted their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $307.22.

About Lincoln Electric

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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