Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 42.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,899 shares of the industrial products company’s stock after selling 13,278 shares during the period. Citigroup Inc.’s holdings in Lincoln Electric were worth $2,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in Lincoln Electric by 11.8% during the 1st quarter. State Street Corp now owns 2,859,342 shares of the industrial products company’s stock worth $395,604,000 after purchasing an additional 302,002 shares during the period. Thrivent Financial for Lutherans grew its position in Lincoln Electric by 33.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 730,877 shares of the industrial products company’s stock worth $105,604,000 after purchasing an additional 184,477 shares during the period. Adams Diversified Equity Fund Inc. acquired a new stake in Lincoln Electric during the 4th quarter worth about $14,302,000. Quadrature Capital Ltd grew its position in Lincoln Electric by 267.5% during the 3rd quarter. Quadrature Capital Ltd now owns 105,840 shares of the industrial products company’s stock worth $13,307,000 after purchasing an additional 77,043 shares during the period. Finally, Welch & Forbes LLC grew its position in Lincoln Electric by 79.0% during the 4th quarter. Welch & Forbes LLC now owns 154,247 shares of the industrial products company’s stock worth $22,287,000 after purchasing an additional 68,084 shares during the period. 73.25% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Down 0.9 %

LECO stock opened at $169.77 on Wednesday. The company’s 50 day simple moving average is $164.39 and its 200-day simple moving average is $159.27. The firm has a market capitalization of $9.77 billion, a PE ratio of 21.19, a P/E/G ratio of 1.27 and a beta of 1.14. Lincoln Electric Holdings, Inc. has a 12 month low of $118.17 and a 12 month high of $176.52. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.93 and a quick ratio of 1.13.

Lincoln Electric (NASDAQ:LECO – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The industrial products company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.04 by $0.09. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Lincoln Electric had a net margin of 12.08% and a return on equity of 48.56%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.10 earnings per share. Equities analysts expect that Lincoln Electric Holdings, Inc. will post 8.95 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, June 29th. Lincoln Electric’s payout ratio is 31.96%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays raised their target price on Lincoln Electric from $145.00 to $185.00 in a research report on Tuesday, May 2nd. Oppenheimer lifted their price target on shares of Lincoln Electric from $177.00 to $180.00 in a research report on Friday, April 28th. CL King started coverage on shares of Lincoln Electric in a report on Tuesday, May 16th. They issued a “neutral” rating for the company. Robert W. Baird lifted their price objective on shares of Lincoln Electric from $180.00 to $184.00 in a research report on Thursday, April 27th. Finally, 888 reaffirmed a “maintains” rating on shares of Lincoln Electric in a report on Friday, April 28th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.50.

Insider Activity at Lincoln Electric

In related news, COO Steven B. Hedlund sold 8,235 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $166.52, for a total transaction of $1,371,292.20. Following the transaction, the chief operating officer now owns 41,123 shares of the company’s stock, valued at $6,847,801.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Steven B. Hedlund sold 8,235 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $166.52, for a total transaction of $1,371,292.20. Following the transaction, the chief operating officer now owns 41,123 shares of the company’s stock, valued at $6,847,801.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michele R. Kuhrt sold 3,505 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $168.10, for a total transaction of $589,190.50. Following the transaction, the executive vice president now directly owns 16,660 shares in the company, valued at approximately $2,800,546. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

About Lincoln Electric

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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.