Raymond James Financial Services Advisors Inc. grew its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 16.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,862 shares of the industrial products company’s stock after acquiring an additional 990 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Lincoln Electric were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC bought a new position in Lincoln Electric during the 1st quarter worth $35,000. Adirondack Trust Co. bought a new position in shares of Lincoln Electric in the third quarter worth $54,000. Wellington Shields & Co. LLC bought a new position in shares of Lincoln Electric in the second quarter worth $62,000. Meeder Asset Management Inc. grew its stake in shares of Lincoln Electric by 53.0% in the second quarter. Meeder Asset Management Inc. now owns 912 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 316 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Lincoln Electric in the second quarter valued at $123,000. 73.25% of the stock is currently owned by institutional investors.
Lincoln Electric Trading Up 1.6 %
Shares of NASDAQ LECO opened at $156.73 on Monday. The business has a fifty day simple moving average of $148.38 and a 200-day simple moving average of $139.73. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.22 and a beta of 1.13. 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. has a 12 month low of $118.17 and a 12 month high of $159.79.
Insider Buying and Selling
In related news, CFO Gabriel Bruno sold 2,482 shares of the stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $150.15, for a total value of $372,672.30. Following the completion of the sale, the chief financial officer now directly owns 22,507 shares of the company’s stock, valued at approximately $3,379,426.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lincoln Electric news, CFO Gabriel Bruno sold 2,482 shares of the company’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $150.15, for a total value of $372,672.30. Following the transaction, the chief financial officer now directly owns 22,507 shares of the company’s stock, valued at approximately $3,379,426.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jennifer I. Ansberry sold 10,175 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $141.12, for a total value of $1,435,896.00. Following the completion of the transaction, the executive vice president now directly owns 16,783 shares in the company, valued at $2,368,416.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,431 shares of company stock valued at $4,902,783. Corporate insiders own 3.16% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Lincoln Electric to $149.00 in a report on Wednesday, December 14th. Oppenheimer upped their price objective on Lincoln Electric to $165.00 in a report on Monday, November 21st. StockNews.com lowered Lincoln Electric from a “strong-buy” rating to a “buy” rating in a report on Friday, January 6th. Stifel Nicolaus upped their target price on Lincoln Electric from $149.00 to $156.00 and gave the company a “hold” rating in a report on Friday. Finally, Robert W. Baird upped their target price on Lincoln Electric from $150.00 to $152.00 in a report on Thursday, October 27th.
Lincoln Electric 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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