Lincoln Electric Holdings, Inc. $LECO Shares Bought by Bradley Foster & Sargent Inc. CT

Key Points

• Bradley Foster & Sargent Inc. CT increased its stake in Lincoln Electric by 14.9% in the first quarter, holding 45,664 shares worth about $11.37 million at quarter-end. Institutional investors overall own 79.61% of the company.
• Lincoln Electric reported better-than-expected quarterly results, posting EPS of $2.50 versus $2.42 expected and revenue of $1.12 billion versus $1.07 billion expected. Revenue rose 11.7% year over year.
• The company announced a quarterly dividend of $0.79 per share, payable October 15, for an annualized yield of about 1.3%. The stock also saw an insider sale, with EVP Michael J. Whitehead selling 845 shares in June.

Bradley Foster & Sargent Inc. CT lifted its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 14.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,664 shares of the industrial products company's stock after buying an additional 5,905 shares during the quarter. Bradley Foster & Sargent Inc. CT owned approximately 0.08% of Lincoln Electric worth $11,374,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Elyxium Wealth LLC acquired a new stake in Lincoln Electric during the fourth quarter worth approximately $27,000. Summit Securities Group LLC acquired a new position in Lincoln Electric in the 4th quarter valued at $46,000. Geneos Wealth Management Inc. raised its holdings in Lincoln Electric by 980.8% in 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. V Square Quantitative Management LLC acquired a new position in Lincoln Electric in the 4th quarter valued at $64,000. Finally, United Community Bank purchased a new position in shares of Lincoln Electric during the 4th quarter worth $65,000. Institutional investors and hedge funds own 79.61% of the company's stock.

Lincoln Electric Stock Up 0.4%

Shares of LECO opened at $251.47 on Friday. The firm has a market cap of $13.78 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The company's fifty day moving average is $259.93 and its two-hundred day moving average is $263.37. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.08. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 EPS. Analysts forecast that Lincoln Electric Holdings, Inc. will post 10.85 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.79 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. Lincoln Electric's dividend payout ratio (DPR) is presently 32.61%.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company'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 completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LECO shares. Barclays raised their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen downgraded Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Morgan Stanley raised their price target on Lincoln Electric from $250.00 to $253.00 and gave the stock an "underweight" rating in a research note on Friday, July 17th. DA Davidson assumed coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price target for the company. Finally, Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a report on Friday, May 1st. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $299.38.

Lincoln Electric Company 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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