Lincoln Electric Holdings, Inc. $LECO Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its Lincoln Electric stake by 49.9% in the first quarter, selling 7,478 shares and retaining 7,503 shares worth approximately $1.86 million. Institutional investors and hedge funds collectively own 79.61% of the company.
• Analyst sentiment is mixed, with five Buy, three Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $299.38 versus the stock’s recent price of $251.47.
• Lincoln Electric exceeded quarterly expectations, reporting $2.50 in earnings per share and $1.12 billion in revenue, while revenue increased 11.7% year over year. The company also declared a quarterly dividend of $0.79, equivalent to a 1.3% annualized yield.

Hsbc Holdings PLC reduced its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 49.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,503 shares of the industrial products company's stock after selling 7,478 shares during the quarter. Hsbc Holdings PLC's holdings in Lincoln Electric were worth $1,859,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LECO. Elyxium Wealth LLC acquired a new stake in Lincoln Electric in the fourth quarter valued at $27,000. Summit Securities Group LLC bought a new stake in shares of Lincoln Electric in the 4th quarter worth about $46,000. V Square Quantitative Management LLC acquired a new stake in Lincoln Electric during the fourth quarter valued at approximately $64,000. United Community Bank bought a new stake in shares of Lincoln Electric in the 4th quarter valued at approximately $65,000. Finally, Geneos Wealth Management Inc. raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 79.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. Morgan Stanley raised their price target on shares of Lincoln Electric from $250.00 to $253.00 and gave the stock an "underweight" rating in a research report on Friday, July 17th. Barclays lifted their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Finally, 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. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $299.38.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $251.47 on Monday. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.54 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 1-year low of $216.22 and a 1-year high of $310.00. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The stock's fifty day simple moving average is $259.93 and its 200-day simple moving average is $263.48.

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

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.3%. Lincoln Electric's dividend payout ratio is 32.61%.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction 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 owned 9,319 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.68% of the company's stock.

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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