Independent Financial Group LLC Invests $683,000 in Lincoln Electric Holdings, Inc. $LECO

Independent Financial Group LLC purchased a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 2,742 shares of the industrial products company’s stock, valued at approximately $683,000.

Other large investors have also recently added to or reduced their stakes in the company. Diamant Asset Management Inc. grew its position in Lincoln Electric by 24,685.8% in the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock worth $956,360,000 after acquiring an additional 3,824,077 shares during the period. Norges Bank purchased a new stake in Lincoln Electric in the fourth quarter valued at $415,155,000. Geode Capital Management LLC lifted its stake in shares of Lincoln Electric by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock valued at $313,175,000 after purchasing an additional 6,070 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Lincoln Electric by 14.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company’s stock worth $306,767,000 after purchasing an additional 158,305 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Lincoln Electric by 5,862.4% during the 4th quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock worth $304,670,000 after purchasing an additional 1,250,041 shares during the period. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays boosted 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. Jefferies Financial Group reiterated a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. DA Davidson started coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target on the stock. Wall Street Zen lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Monday. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $299.38.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.68% of the company’s stock.

Lincoln Electric Price Performance

LECO stock opened at $249.17 on Thursday. The business’s fifty day moving average price is $260.43 and its 200 day moving average price is $263.40. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $13.65 billion, a PE ratio of 25.71, a P/E/G ratio of 1.53 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The company had revenue of $1.12 billion during 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%.Lincoln Electric’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. On average, sell-side analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.85 EPS for the current year.

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.