Kovitz Investment Group Partners LLC lessened its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 50.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,030 shares of the industrial products company’s stock after selling 6,117 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Lincoln Electric were worth $1,096,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of LECO. IFP Advisors Inc raised its holdings in shares of Lincoln Electric by 1,422.2% during the 2nd quarter. IFP Advisors Inc now owns 137 shares of the industrial products company’s stock valued at $27,000 after buying an additional 128 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in shares of Lincoln Electric during the 2nd quarter valued at about $35,000. Fifth Third Bancorp raised its holdings in shares of Lincoln Electric by 28.1% during the 2nd quarter. Fifth Third Bancorp now owns 237 shares of the industrial products company’s stock valued at $47,000 after buying an additional 52 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Lincoln Electric by 151.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 239 shares of the industrial products company’s stock valued at $43,000 after buying an additional 144 shares in the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of Lincoln Electric during the 2nd quarter valued at about $49,000. Institutional investors own 75.82% of the company’s stock.
Lincoln Electric Price Performance
LECO opened at $231.62 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.31 and a current ratio of 2.07. Lincoln Electric Holdings, Inc. has a 52-week low of $152.36 and a 52-week high of $232.64. The stock has a market capitalization of $13.25 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.64 and a beta of 1.17. The stock’s 50 day moving average price is $216.46 and its 200-day moving average price is $196.71.
Analysts Set New Price Targets
LECO has been the topic of a number of analyst reports. Seaport Res Ptn raised Lincoln Electric from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 31st. Stifel Nicolaus lifted their price target on Lincoln Electric from $192.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, December 19th. StockNews.com raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, October 24th. Jefferies Financial Group lifted their price target on Lincoln Electric from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Morgan Stanley initiated coverage on Lincoln Electric in a research note on Monday, January 8th. They issued an “underweight” rating and a $178.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $195.75.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, as well as consumables used in the brazing and soldering alloys market.
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