Janney Montgomery Scott LLC reduced its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,110 shares of the industrial products company’s stock after selling 575 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Lincoln Electric were worth $643,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Artemis Investment Management LLP bought a new stake in shares of Lincoln Electric in the third quarter valued at about $2,399,000. Raymond James & Associates raised its holdings in Lincoln Electric by 16.4% in the third quarter. Raymond James & Associates now owns 105,499 shares of the industrial products company’s stock worth $13,263,000 after purchasing an additional 14,883 shares in the last quarter. AE Wealth Management LLC bought a new position in Lincoln Electric in the third quarter worth about $691,000. Raymond James Financial Services Advisors Inc. raised its holdings in Lincoln Electric by 16.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,862 shares of the industrial products company’s stock worth $863,000 after purchasing an additional 990 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Lincoln Electric by 29.9% in the third quarter. State of Alaska Department of Revenue now owns 50,576 shares of the industrial products company’s stock worth $6,357,000 after purchasing an additional 11,632 shares in the last quarter. 73.25% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on LECO shares. Stifel Nicolaus boosted their target price on shares of Lincoln Electric from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday. StockNews.com downgraded shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a report on Friday, January 6th. Morgan Stanley boosted their target price on shares of Lincoln Electric to $149.00 in a report on Wednesday, December 14th. Robert W. Baird boosted their target price on shares of Lincoln Electric from $150.00 to $152.00 in a report on Thursday, October 27th. Finally, Oppenheimer boosted their target price on shares of Lincoln Electric to $165.00 in a report on Monday, November 21st.
Insider Activity at Lincoln Electric
Lincoln Electric Stock Performance
LECO opened at $156.73 on Friday. Lincoln Electric Holdings, Inc. has a 52-week low of $118.17 and a 52-week high of $159.79. The company has a quick ratio of 0.93, a current ratio of 1.70 and a debt-to-equity ratio of 0.77. The company has a market cap of $9.05 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.13. The firm’s 50-day moving average price is $148.38 and its 200-day moving average price is $139.48.
Lincoln Electric (NASDAQ:LECO – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.08. Lincoln Electric had a net margin of 11.91% and a return on equity of 52.60%. The firm had revenue of $935.24 million for the quarter, compared to the consensus estimate of $919.13 million. As a group, equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 8.22 EPS for the current fiscal year.
Lincoln Electric Company Profile
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.
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