NewEdge Advisors LLC Has $5.68 Million Stock Position in Lincoln Electric Holdings, Inc. $LECO

NewEdge Advisors LLC increased its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 403.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,388 shares of the industrial products company's stock after buying an additional 17,139 shares during the period. NewEdge Advisors LLC's holdings in Lincoln Electric were worth $5,679,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Transamerica Financial Advisors LLC bought a new position in shares of Lincoln Electric during the second quarter valued at about $26,000. Keating Financial Advisory Services Inc. bought a new position in Lincoln Electric in the 2nd quarter valued at $29,000. Elyxium Wealth LLC bought a new stake in shares of Lincoln Electric during the 4th quarter worth $27,000. State of Wyoming bought a new stake in Lincoln Electric in the second quarter worth about $69,000. Finally, Root Financial Partners LLC lifted its stake in Lincoln Electric by 118.8% in the first quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company's stock valued at $87,000 after purchasing an additional 190 shares during the last quarter. 79.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LECO has been the subject of a number of recent analyst reports. DA Davidson started coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a "buy" rating and a $320.00 target price for the company. Weiss Ratings raised 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 shares of Lincoln Electric in a report on Monday, August 10th. They issued a "buy" rating and a $340.00 price target on the stock. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $257.00 to $283.00 in a report on Monday, August 10th. Finally, Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $307.22.

Lincoln Electric Price Performance

Shares of NASDAQ LECO traded up $2.60 during midday trading on Monday, reaching $259.80. The stock had a trading volume of 124,872 shares, compared to its average volume of 387,812. The stock has a 50-day moving average of $268.47 and a 200-day moving average of $263.38. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its earnings results 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 analysts' expectations 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 was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 earnings per share. As a group, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. Lincoln Electric's payout ratio is currently 31.57%.

About Lincoln Electric

Lincoln Electric Holdings, Inc NASDAQ: LECO is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.