Citigroup Inc. Increases Holdings in Lincoln Electric Holdings, Inc. $LECO

Citigroup Inc. grew its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 45.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,978 shares of the industrial products company’s stock after buying an additional 6,897 shares during the quarter. Citigroup Inc.’s holdings in Lincoln Electric were worth $5,183,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Quent Capital LLC bought a new position in shares of Lincoln Electric during the third quarter valued at approximately $27,000. Frazier Financial Advisors LLC increased its position in Lincoln Electric by 3,700.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 111 shares during the period. Root Financial Partners LLC bought a new position in Lincoln Electric in the 3rd quarter worth $31,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Lincoln Electric by 82.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 155 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 70 shares during the period. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Lincoln Electric by 3,860.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 198 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 193 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LECO shares. Robert W. Baird set a $330.00 price target on shares of Lincoln Electric in a research note on Friday, February 13th. Roth Mkm reissued a “buy” rating and issued a $297.00 target price (up from $285.00) on shares of Lincoln Electric in a research report on Tuesday, February 3rd. Morgan Stanley set a $240.00 price target on Lincoln Electric and gave the company an “underweight” rating in a research report on Tuesday, February 17th. Zacks Research cut Lincoln Electric from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lincoln Electric has an average rating of “Moderate Buy” and a consensus target price of $302.83.

Lincoln Electric Stock Down 2.4%

LECO stock opened at $280.08 on Wednesday. The business has a 50 day moving average of $267.99 and a 200 day moving average of $248.31. The firm has a market cap of $15.35 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24. Lincoln Electric Holdings, Inc. has a twelve month low of $161.11 and a twelve month high of $310.00. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.78.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, February 12th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 earnings per share. On average, research analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.16 annualized dividend and a yield of 1.1%. Lincoln Electric’s payout ratio is 33.91%.

Lincoln Electric 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.