Principal Financial Group Inc. Has $76.84 Million Holdings in Lincoln Electric Holdings, Inc. $LECO

Principal Financial Group Inc. cut its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 8.9% during the first quarter, Holdings Channel reports. The fund owned 308,498 shares of the industrial products company’s stock after selling 30,294 shares during the period. Principal Financial Group Inc.’s holdings in Lincoln Electric were worth $76,842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LECO. Elyxium Wealth LLC acquired a new position in Lincoln Electric in the fourth quarter worth $27,000. Summit Securities Group LLC bought a new stake in shares of Lincoln Electric during the fourth quarter worth $46,000. V Square Quantitative Management LLC acquired a new stake in shares of Lincoln Electric in the fourth quarter valued at $64,000. United Community Bank acquired a new stake in shares of Lincoln Electric in the fourth quarter valued at $65,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Lincoln Electric by 980.8% in 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. 79.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the firm’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 value of $232,214.45. Following the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.68% of the company’s stock.

Lincoln Electric Price Performance

Lincoln Electric stock opened at $259.31 on Friday. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 1.56 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. The business’s 50-day simple moving average is $261.98 and its 200 day simple moving average is $263.20.

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 analysts’ consensus estimates of $2.42 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.16 EPS. As a group, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.82 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on LECO shares. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Morgan Stanley restated an “underweight” rating and issued a $250.00 price objective on shares of Lincoln Electric in a research report on Monday, May 4th. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Barclays increased their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a report on Friday, May 1st. Five investment 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.com, the company presently has an average rating of “Hold” and an average price target of $299.00.

Lincoln Electric Company 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.