New York Life Investment Management LLC Sells 2,989 Shares of Lincoln Electric Holdings, Inc. $LECO

New York Life Investment Management LLC reduced its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 53.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,628 shares of the industrial products company’s stock after selling 2,989 shares during the quarter. New York Life Investment Management LLC’s holdings in Lincoln Electric were worth $630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LECO. Frazier Financial Advisors LLC grew its stake in shares of Lincoln Electric by 3,700.0% during the third quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $27,000 after buying an additional 111 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Lincoln Electric during the third quarter valued at about $31,000. Geneos Wealth Management Inc. grew its stake in shares of Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after buying an additional 255 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Lincoln Electric during the fourth quarter valued at about $64,000. Finally, United Community Bank bought a new position in shares of Lincoln Electric during the fourth quarter valued at about $65,000. 79.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LECO shares. Morgan Stanley reaffirmed an “underweight” rating and set a $250.00 price objective on shares of Lincoln Electric in a research note on Monday, May 4th. Robert W. Baird set a $330.00 target price on Lincoln Electric in a research note on Friday, February 13th. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research note on Friday, May 1st. Roth Mkm reissued a “buy” rating and issued a $297.00 target price (up from $285.00) on shares of Lincoln Electric in a research note on Tuesday, February 3rd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $296.00.

Lincoln Electric Price Performance

LECO stock opened at $260.51 on Thursday. The firm has a 50 day moving average price of $258.05 and a 200-day moving average price of $255.97. Lincoln Electric Holdings, Inc. has a 52-week low of $188.65 and a 52-week high of $310.00. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 1.57 and a beta of 1.24. 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 released its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $2.16 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 10.81 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Lincoln Electric’s dividend payout ratio (DPR) is presently 32.61%.

About Lincoln Electric

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.