State Board of Administration of Florida Retirement System Has $11.10 Million Stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

State Board of Administration of Florida Retirement System trimmed its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECOFree Report) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,071 shares of the industrial products company’s stock after selling 880 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Lincoln Electric were worth $11,102,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in LECO. Fifth Third Bancorp grew its holdings in Lincoln Electric by 28.1% during the second quarter. Fifth Third Bancorp now owns 237 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 52 shares during the period. Huntington National Bank boosted its holdings in shares of Lincoln Electric by 1.4% in the second quarter. Huntington National Bank now owns 4,007 shares of the industrial products company’s stock valued at $796,000 after buying an additional 57 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Lincoln Electric by 1.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,700 shares of the industrial products company’s stock valued at $854,000 after buying an additional 58 shares during the period. State of Wyoming boosted its holdings in Lincoln Electric by 14.7% during the fourth quarter. State of Wyoming now owns 492 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 63 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in Lincoln Electric by 2.9% during the third quarter. Private Trust Co. NA now owns 2,409 shares of the industrial products company’s stock worth $438,000 after purchasing an additional 67 shares during the last quarter. 75.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lincoln Electric

In other news, CEO Christopher L. Mapes sold 68,610 shares of Lincoln Electric stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $207.09, for a total value of $14,208,444.90. Following the completion of the transaction, the chief executive officer now owns 114,620 shares of the company’s stock, valued at approximately $23,736,655.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Steven B. Hedlund sold 12,880 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $203.59, for a total value of $2,622,239.20. Following the transaction, the chief operating officer now directly owns 40,122 shares of the company’s stock, valued at approximately $8,168,437.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher L. Mapes sold 68,610 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $207.09, for a total value of $14,208,444.90. Following the transaction, the chief executive officer now directly owns 114,620 shares in the company, valued at approximately $23,736,655.80. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Lincoln Electric Stock Up 0.0 %

Shares of NASDAQ LECO opened at $231.69 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.07 and a quick ratio of 1.31. Lincoln Electric Holdings, Inc. has a one year low of $152.36 and a one year high of $234.21. The stock has a market capitalization of $13.25 billion, a P/E ratio of 27.13, a PEG ratio of 1.64 and a beta of 1.17. The firm’s 50 day simple moving average is $217.01 and its two-hundred day simple moving average is $196.95.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Lincoln Electric from $192.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, December 19th. StockNews.com upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, October 24th. Jefferies Financial Group raised their target price on shares of Lincoln Electric from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Morgan Stanley assumed coverage on shares of Lincoln Electric in a research note on Monday, January 8th. They set an “underweight” rating and a $178.00 target price for the company. Finally, Seaport Res Ptn upgraded shares of Lincoln Electric from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $195.75.

Get Our Latest Report on Lincoln Electric

About Lincoln Electric

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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