Vise Technologies Inc. Takes Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Vise Technologies purchased 3,934 Lincoln Electric shares worth approximately $1.05 million in the second quarter. Institutional investors collectively own 79.61% of the company’s stock.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and an average price target of $307.22; UBS and DA Davidson recently initiated coverage with buy ratings.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue, while revenue grew 12% year over year. The company also declared a $0.79 quarterly dividend, equivalent to a 1.1% yield.

Vise Technologies Inc. purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,934 shares of the industrial products company's stock, valued at approximately $1,045,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System grew its holdings in shares of Lincoln Electric by 7.8% in the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company's stock worth $15,488,000 after purchasing an additional 4,655 shares during the last quarter. K.J. Harrison & Partners Inc bought a new stake in Lincoln Electric during the 4th quarter valued at about $1,677,000. Norges Bank bought a new stake in Lincoln Electric during the 4th quarter valued at about $415,155,000. California State Teachers Retirement System boosted its position in Lincoln Electric by 23.2% in the 1st quarter. California State Teachers Retirement System now owns 64,257 shares of the industrial products company's stock valued at $16,005,000 after buying an additional 12,093 shares during the period. Finally, Geode Capital Management LLC boosted its position in Lincoln Electric by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company's stock valued at $313,175,000 after buying an additional 6,070 shares during the period. 79.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michael J. Whitehead sold 845 shares of the firm'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 sale, the executive vice president owned 9,319 shares of the company's stock, valued at $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research note on Friday, May 1st. UBS Group assumed coverage on Lincoln Electric in a report on Monday, August 10th. They set a "buy" rating and a $340.00 price objective on the stock. Finally, DA Davidson assumed coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a "buy" rating and a $320.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $307.22.

Lincoln Electric Price Performance

NASDAQ LECO opened at $281.82 on Friday. The company has a market cap of $15.36 billion, a PE ratio of 28.15, a P/E/G ratio of 1.69 and a beta of 1.20. The firm's 50 day moving average price is $266.06 and its 200-day moving average price is $265.97. 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 Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. Lincoln Electric's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.60 earnings per share. Sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric's dividend payout ratio is 31.57%.

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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