Lincoln Electric Holdings, Inc. $LECO Stock: Boston Trust Walden Corp Reduces Holdings

Key Points

• Boston Trust Walden cut its Lincoln Electric stake by 3.3% in the third quarter, selling 9,708 shares and retaining 285,903 shares valued at about $75.6 million. Institutional investors and hedge funds own 79.61% of the company.
• Lincoln Electric reported quarterly EPS of $2.98, above the $2.81 analyst estimate, while revenue rose 15.1% year over year to $1.22 billion.
• The company raised its quarterly dividend from $0.79 to $0.87 per share. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $319.11.

Boston Trust Walden Corp trimmed its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 285,903 shares of the industrial products company's stock after selling 9,708 shares during the period. Boston Trust Walden Corp owned about 0.53% of Lincoln Electric worth $75,644,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC grew its holdings in shares of Lincoln Electric by 36.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,141 shares of the industrial products company's stock valued at $1,316,000 after acquiring an additional 1,379 shares in the last quarter. Provenance Wealth Advisors LLC bought a new position in shares of Lincoln Electric in the third quarter valued at about $407,000. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Lincoln Electric during the third quarter worth approximately $12,025,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Lincoln Electric by 6.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,980 shares of the industrial products company's stock valued at $524,000 after buying an additional 124 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lincoln Electric in the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 79.61% of the company's stock.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, CEO Steven B. Hedlund sold 14,371 shares of Lincoln Electric stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $281.95, for a total transaction of $4,051,903.45. Following the completion of the transaction, the chief executive officer owned 63,483 shares in the company, valued at approximately $17,899,031.85. The trade was a 18.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.68% of the company's stock.

Lincoln Electric Stock Down 1.8%

Lincoln Electric stock opened at $279.33 on Thursday. Lincoln Electric Holdings, Inc. has a 1-year low of $216.22 and a 1-year high of $310.00. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 1.67 and a beta of 1.19. The firm's fifty day moving average price is $268.07 and its two-hundred day moving average price is $266.32. The company has a current ratio of 1.91, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. Lincoln Electric had a net margin of 12.40% and a return on equity of 40.06%. The business's revenue was up 15.1% on a year-over-year basis. During the same period last year, the company earned $2.47 earnings per share. On average, equities research analysts predict that Lincoln Electric Holdings, Inc. will post 11.38 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.87 per share. This is an increase from Lincoln Electric's previous quarterly dividend of $0.79. The ex-dividend date is Thursday, December 31st. This represents a $3.48 dividend on an annualized basis and a yield of 1.2%. Lincoln Electric's dividend payout ratio (DPR) is presently 30.30%.

Analyst Ratings Changes

LECO has been the subject of a number of analyst reports. DA Davidson set a $340.00 price target on Lincoln Electric in a research note on Thursday, October 29th. Weiss Ratings downgraded Lincoln Electric from a "buy (b)" rating to a "hold (c)" rating in a report on Wednesday, October 28th. Morgan Stanley increased their price objective on shares of Lincoln Electric from $283.00 to $293.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 28th. Robert W. Baird lifted their price objective on Lincoln Electric from $317.00 to $322.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 28th. Finally, Barclays boosted their price objective on Lincoln Electric from $300.00 to $350.00 and gave the company an "overweight" rating in a research note on Thursday, October 29th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $319.11.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc NASDAQ: LECO is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.