Lincoln Electric Holdings, Inc. $LECO Holdings Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 24.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,954 shares of the industrial products company’s stock after acquiring an additional 2,368 shares during the period. PNC Financial Services Group Inc.’s holdings in Lincoln Electric were worth $2,978,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Tudor Investment Corp ET AL boosted its position in Lincoln Electric by 3,475.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company’s stock worth $12,100,000 after acquiring an additional 49,872 shares during the period. New York State Teachers Retirement System grew its stake in shares of Lincoln Electric by 7.8% in the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock worth $15,488,000 after purchasing an additional 4,655 shares in the last quarter. Azzad Asset Management Inc. ADV increased its holdings in shares of Lincoln Electric by 37.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company’s stock valued at $3,811,000 after purchasing an additional 4,317 shares during the period. K.J. Harrison & Partners Inc bought a new stake in shares of Lincoln Electric during the fourth quarter valued at about $1,677,000. Finally, Norges Bank bought a new stake in shares of Lincoln Electric during the fourth quarter valued at about $415,155,000. 79.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Lincoln Electric from $250.00 to $253.00 and gave the company an “underweight” rating in a research report on Friday, July 17th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research note on Friday, May 1st. Barclays increased their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. DA Davidson assumed coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price on the stock. Finally, Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $299.38.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.68% of the stock is owned by corporate insiders.

Lincoln Electric Trading Up 4.0%

Lincoln Electric stock opened at $267.25 on Wednesday. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The firm’s 50 day moving average price is $260.11 and its two-hundred day moving average price is $263.67. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 EPS. On average, research analysts predict that Lincoln Electric Holdings, Inc. will post 10.85 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio (DPR) is presently 32.61%.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.