Lincoln Electric Holdings, Inc. $LECO Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its stake in Lincoln Electric by 22.6% in the first quarter, selling 84,061 shares and leaving it with 288,476 shares valued at about $71.9 million.
• Lincoln Electric reported strong quarterly results, with EPS of $2.50 beating estimates and revenue of $1.12 billion topping expectations; revenue rose 11.7% year over year.
• The company announced a quarterly dividend of $0.79 per share, payable on October 15, and analysts currently have a consensus rating of Hold with a $299.38 price target.

First Trust Advisors LP lessened its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 288,476 shares of the industrial products company's stock after selling 84,061 shares during the period. First Trust Advisors LP owned about 0.53% of Lincoln Electric worth $71,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LECO. Elyxium Wealth LLC acquired a new position in shares of Lincoln Electric in the 4th quarter valued at $27,000. Summit Securities Group LLC acquired a new stake in Lincoln Electric during the fourth quarter valued at $46,000. Geneos Wealth Management Inc. increased its holdings in Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock valued at $53,000 after buying an additional 255 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Lincoln Electric in the fourth quarter valued at $64,000. Finally, United Community Bank acquired a new position in shares of Lincoln Electric in the fourth quarter worth about $65,000. Institutional investors and hedge funds own 79.61% of the company's stock.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction that occurred on 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 approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.68% of the company's stock.

Lincoln Electric Stock Performance

LECO opened at $251.47 on Friday. The firm's fifty day simple moving average is $259.93 and its two-hundred day simple moving average is $263.37. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.54 and a beta of 1.20. 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 released its earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the company earned $2.16 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.85 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company 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 $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric's payout ratio is presently 32.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LECO shares. Wall Street Zen lowered shares of Lincoln Electric from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. Morgan Stanley upped their price target on Lincoln Electric from $250.00 to $253.00 and gave the stock an "underweight" rating in a report on Friday, July 17th. Jefferies Financial Group reiterated a "hold" rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Barclays raised their price objective on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Finally, DA Davidson started coverage on Lincoln Electric in a research report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price objective for the company. Five research 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. Based on data from MarketBeat, Lincoln Electric currently has a consensus rating of "Hold" and a consensus price target of $299.38.

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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