Legal & General Group Plc Takes $15.44 Million Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Legal & General Group Plc acquired 436,731 Lincoln Electric shares valued at approximately $15.44 million, giving it a 0.80% stake. Institutional investors collectively own 79.61% of the company.
• Analyst sentiment is moderately bullish: Lincoln Electric has an average “Moderate Buy” rating and a consensus price target of $307.22, with recent targets ranging from $283 to $340.
• Lincoln Electric exceeded quarterly expectations with EPS of $2.93 and revenue of $1.22 billion, while revenue rose 12% year over year. The company also announced a quarterly dividend of $0.79 per share, representing a 1.1% yield.

Legal & General Group Plc acquired a new position 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 acquired 436,731 shares of the industrial products company's stock, valued at approximately $15,438,000. Legal & General Group Plc owned 0.80% of Lincoln Electric at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Earned Wealth Advisors LLC raised its holdings in shares of Lincoln Electric by 3.8% in the 1st quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company's stock valued at $293,000 after purchasing an additional 43 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in shares of Lincoln Electric by 2.5% during the fourth quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company's stock valued at $439,000 after purchasing an additional 45 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Lincoln Electric by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company's stock valued at $1,045,000 after purchasing an additional 52 shares in the last quarter. Parallel Advisors LLC increased its holdings in Lincoln Electric by 9.4% during the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company's stock valued at $151,000 after buying an additional 52 shares during the period. Finally, Sumitomo Life Insurance Co. raised its stake in Lincoln Electric by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company's stock worth $1,034,000 after buying an additional 52 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on LECO. Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Weiss Ratings upgraded Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 10th. UBS Group initiated coverage on Lincoln Electric in a research report on Monday, August 10th. They set a "buy" rating and a $340.00 price objective on the stock. Finally, DA Davidson began coverage on Lincoln Electric in a research note on Tuesday, June 16th. They issued a "buy" rating and a $320.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $307.22.

Lincoln Electric Price Performance

Shares of LECO opened at $284.89 on Monday. The company has a 50 day moving average of $267.37 and a two-hundred day moving average of $265.88. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The company has a market cap of $15.53 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $2.60 earnings per share. The business's quarterly revenue was up 12.0% on a year-over-year basis. As a group, analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric's payout ratio is 31.57%.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.68% of the stock is owned by corporate insiders.

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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