K.J. Harrison & Partners Inc Purchases Shares of 6,000 Lincoln Electric Holdings, Inc. $LECO

Key Points

• K.J. Harrison & Partners purchased 6,000 shares of Lincoln Electric valued at approximately $1.59 million, while institutional investors collectively own 79.61% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $307.22; recent firms issued targets ranging from $283 to $340.
• Lincoln Electric beat quarterly expectations, reporting $2.93 in adjusted EPS and $1.22 billion in revenue, up 12% year over year. The company also declared a quarterly dividend of $0.79 per share, or $3.16 annually.

K.J. Harrison & Partners Inc purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,000 shares of the industrial products company's stock, valued at approximately $1,593,000.

Other hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in Lincoln Electric by 8.6% during the 1st 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 period. Jones Financial Companies Lllp raised 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 buying an additional 963 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Lincoln Electric by 8.9% during the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 valued at $26,017,000 after acquiring an additional 10,961 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in 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 acquiring an additional 255 shares during the last quarter. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 transaction of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LECO. Wall Street Zen raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set a "buy" rating and a $320.00 price target for the company. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $257.00 to $283.00 in a research report on Monday, August 10th. UBS Group assumed coverage on Lincoln Electric in a report on Monday, August 10th. They issued a "buy" rating and a $340.00 price objective on the stock. Finally, Weiss Ratings upgraded 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 has a consensus rating of "Moderate Buy" and an average target price of $307.22.

Lincoln Electric Stock Performance

Shares of LECO opened at $286.02 on Tuesday. 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 company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 1.72 and a beta of 1.20. The company's 50 day simple moving average is $264.35 and its 200 day simple moving average is $265.52. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00.

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, beating the consensus estimate of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the business earned $2.60 EPS. The firm's revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 11.11 EPS for the current year.

Lincoln Electric Announces Dividend

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