Aviva PLC Reduces Stock Holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Aviva PLC lowered its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECOGet Rating) by 41.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,879 shares of the industrial products company’s stock after selling 4,784 shares during the quarter. Aviva PLC’s holdings in Lincoln Electric were worth $994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LECO. Cetera Advisor Networks LLC increased its holdings in Lincoln Electric by 5.8% during the first quarter. Cetera Advisor Networks LLC now owns 2,027 shares of the industrial products company’s stock valued at $279,000 after buying an additional 111 shares during the last quarter. Citigroup Inc. grew its position in shares of Lincoln Electric by 3.9% during the 1st quarter. Citigroup Inc. now owns 19,635 shares of the industrial products company’s stock valued at $2,706,000 after acquiring an additional 743 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Lincoln Electric during the 1st quarter valued at $591,000. Panagora Asset Management Inc. purchased a new stake in shares of Lincoln Electric in the 1st quarter worth $210,000. Finally, BlackRock Inc. raised its holdings in Lincoln Electric by 0.7% in the 1st quarter. BlackRock Inc. now owns 5,200,068 shares of the industrial products company’s stock worth $716,620,000 after purchasing an additional 38,059 shares during the period. Institutional investors own 73.25% of the company’s stock.

Lincoln Electric Trading Down 0.1 %

Shares of LECO opened at $170.20 on Friday. Lincoln Electric Holdings, Inc. has a 1 year low of $118.17 and a 1 year high of $176.52. The company has a 50 day simple moving average of $164.27 and a two-hundred day simple moving average of $158.72. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.93 and a quick ratio of 1.13. The firm has a market cap of $9.80 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.14.

Lincoln Electric (NASDAQ:LECOGet Rating) last posted its earnings results on Thursday, April 27th. The industrial products company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.09. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Lincoln Electric had a net margin of 12.08% and a return on equity of 48.56%. Lincoln Electric’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company posted $2.10 earnings per share. On average, equities analysts expect that Lincoln Electric Holdings, Inc. will post 8.95 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, June 29th. Lincoln Electric’s payout ratio is presently 31.96%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. CL King assumed coverage on Lincoln Electric in a report on Tuesday, May 16th. They set a “neutral” rating for the company. StockNews.com began coverage on Lincoln Electric in a research note on Thursday. They set a “buy” rating for the company. Oppenheimer raised their target price on shares of Lincoln Electric from $177.00 to $180.00 in a research note on Friday, April 28th. Robert W. Baird upped their price target on shares of Lincoln Electric from $180.00 to $184.00 in a research report on Thursday, April 27th. Finally, 888 reissued a “maintains” rating on shares of Lincoln Electric in a research note on Friday, April 28th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.50.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michele R. Kuhrt sold 3,505 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $168.10, for a total transaction of $589,190.50. Following the sale, the executive vice president now directly owns 16,660 shares of the company’s stock, valued at approximately $2,800,546. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Steven B. Hedlund sold 8,235 shares of Lincoln Electric stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $166.52, for a total value of $1,371,292.20. Following the completion of the transaction, the chief operating officer now owns 41,123 shares in the company, valued at $6,847,801.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michele R. Kuhrt sold 3,505 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $168.10, for a total value of $589,190.50. Following the completion of the sale, the executive vice president now directly owns 16,660 shares of the company’s stock, valued at $2,800,546. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Lincoln Electric Company Profile

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Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.

Further Reading

Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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