Truist Financial Corp Has $4.10 Million Position in Lincoln Electric Holdings, Inc. $LECO

Truist Financial Corp lessened its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 3.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 19,778 shares of the industrial products company’s stock after selling 792 shares during the period. Truist Financial Corp’s holdings in Lincoln Electric were worth $4,100,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its position in shares of Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 255 shares during the last quarter. Brooklyn Investment Group lifted its stake in Lincoln Electric by 279.6% in the first quarter. Brooklyn Investment Group now owns 353 shares of the industrial products company’s stock valued at $67,000 after buying an additional 260 shares during the period. Signaturefd LLC lifted its stake in Lincoln Electric by 77.1% in the first quarter. Signaturefd LLC now owns 425 shares of the industrial products company’s stock valued at $80,000 after buying an additional 185 shares during the period. YANKCOM Partnership boosted its holdings in Lincoln Electric by 12.2% during the first quarter. YANKCOM Partnership now owns 553 shares of the industrial products company’s stock worth $105,000 after buying an additional 60 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Lincoln Electric by 92.5% in the 1st quarter. UMB Bank n.a. now owns 749 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 360 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Insider Buying and Selling

In other Lincoln Electric news, SVP Michael J. Whitehead sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $233.23, for a total transaction of $233,230.00. Following the sale, the senior vice president directly owned 9,177 shares of the company’s stock, valued at approximately $2,140,351.71. This represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gabriel Bruno sold 7,305 shares of Lincoln Electric stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $242.42, for a total transaction of $1,770,878.10. Following the completion of the transaction, the executive vice president directly owned 29,927 shares of the company’s stock, valued at approximately $7,254,903.34. This trade represents a 19.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,692 shares of company stock worth $5,745,148. 2.63% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on LECO shares. Roth Capital began coverage on shares of Lincoln Electric in a research note on Friday, September 5th. They set a “buy” rating and a $279.00 price objective on the stock. KeyCorp increased their target price on shares of Lincoln Electric from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Stifel Nicolaus boosted their price target on shares of Lincoln Electric from $236.00 to $250.00 and gave the company a “hold” rating in a report on Friday, August 1st. Wall Street Zen cut shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Lincoln Electric in a report on Wednesday. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lincoln Electric has an average rating of “Moderate Buy” and a consensus target price of $239.33.

Lincoln Electric Stock Up 2.3%

Shares of LECO stock opened at $241.95 on Thursday. The firm’s fifty day moving average price is $240.04 and its two-hundred day moving average price is $212.46. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. Lincoln Electric Holdings, Inc. has a 1 year low of $161.11 and a 1 year high of $249.19. The firm has a market capitalization of $13.35 billion, a P/E ratio of 27.19, a PEG ratio of 1.63 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.28. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Lincoln Electric had a return on equity of 39.79% and a net margin of 12.27%.Lincoln Electric’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 EPS. On average, equities analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.2%. Lincoln Electric’s payout ratio is 33.71%.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.