Wood Tarver Financial Group LLC Takes $238,000 Position in Lincoln Electric Holdings, Inc. $LECO

Wood Tarver Financial Group LLC purchased a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,758 shares of the industrial products company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in Lincoln Electric by 8.6% during the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after buying an additional 197 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Lincoln Electric by 553.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 963 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Lincoln Electric by 8.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock worth $68,582,000 after acquiring an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Lincoln Electric by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock worth $26,017,000 after acquiring an additional 10,961 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in 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 acquiring an additional 255 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LECO has been the subject of several research analyst reports. DA Davidson assumed coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Barclays lifted their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. UBS Group began coverage on Lincoln Electric in a research note on Monday, August 10th. They issued a “buy” rating and a $340.00 price objective on the stock. Finally, Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.22.

Insider Transactions at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Performance

NASDAQ LECO opened at $282.24 on Tuesday. The firm’s fifty day moving average price is $266.35 and its two-hundred day moving average price is $266.03. The stock has a market cap of $15.38 billion, a PE ratio of 28.20, a PEG ratio of 1.69 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm posted $2.60 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The firm 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 dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s payout ratio is presently 31.57%.

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.