Great West Life Assurance Co. Can raised its stake in Lincoln Electric Holdings, Inc.NASDAQ: LECO – Get an estimate) by 7.0% in the third quarter, according to the company’s latest application to the Securities and Exchange Commission. The firm owned 40,736 shares of the industrial products company’s stock after acquiring an additional 2,668 shares during the period. Great West Life Assurance Co. Can owned about 0.07% of Lincoln Electric worth $5,120,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in shares of Lincoln Electric in the first quarter worth about $35,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Lincoln Electric in the 3rd quarter valued at approximately $52,000. Adirondack Trust Co. purchased a new stake in shares of Lincoln Electric in the 3rd quarter valued at approximately $54,000. Wellington Shields & Co. LLC acquired a new stake in shares of Lincoln Electric in the second quarter valued at approximately $62,000. Finally, CWM LLC boosted its holdings in shares of Lincoln Electric by 27.6% in the third quarter. CWM LLC now owns 611 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 132 shares during the period. Hedge funds and other institutional investors own 73.25% of the company’s shares.
Insider action at Lincoln Electric
In other Lincoln Electric news, CFO Gabriel Bruno sold 2,482 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $150.15, for a total transaction amounting to $372,672.30. Following the completion of the transaction, the chief financial officer now owns 22,507 shares in the company, valued at $3,379,426.05. The sale was disclosed in an SEC legal filing that can be accessed this hyperlink. In related news, CFO Gabriel Bruno sold 2,482 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $150.15, with a total value of $372,672.30. Following the sale, the chief financial officer now directly owns 22,507 shares in the company, valued at $3,379,426.05. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed this hyperlink. Also, CEO Steven B. Hedlund sold 5,991 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $150.10 for a total value of $899,249.10. Following the transaction, the chief executive officer now owns 36,843 shares in the company, valued at $5,530,134.30. You can find this sale disclosure here. Insiders sold a total of 33,431 shares of company stock valued at $4,902,783 over the last quarter. 3.16% of shares belong to company insiders.
Analyst upgrades and downgrades
Several research firms have commented on LECO. StockNews.com lowered shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 6th. Robert W. Baird upped their price objective on shares of Lincoln Electric from $150.00 to $152.00 in a research note on Thursday, October 27th. Morgan Stanley boosted their target price on shares of Lincoln Electric to $149.00 in a research report on Wednesday, December 14th. Oppenheimer boosted their target price on shares of Lincoln Electric to $165.00 in a research report on Monday, November 21st. Finally, Stifel Nicolaus upped their price objective on shares of Lincoln Electric from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday.
Lincoln Electric price figures
NASDAQ LECO opened at $156.73 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.70, and a debt-to-equity ratio of 0.77. Lincoln Electric Holdings, Inc. The 12 month low is $118.17 and the 12 month high is $159.79. The company has a market capitalization of $9.05 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.13. The company has a 50 day moving average of $148.38 and a 200 day moving average of $139.60.
Lincoln Electric (NASDAQ: LECO – Get an estimate) last released its quarterly earnings data on Thursday, October 27th. The industrial products company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.08. Lincoln Electric had a net margin of 11.91% and a return on equity of 52.60%. The company had revenue of $935.24 million during the quarter, compared to analysts’ expectations of $919.13 million. Equities research analysts forecast that Lincoln Electric Holdings, Inc. earns 8.22 EPS in the current fiscal year.
Lincoln Electric Profile
Lincoln Electric Holdings, Inc. manufactures arc welding equipment, welding accessories and other welding and cutting products. Its welding products include arc welding power supplies, wire feed systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.
Further reading
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