Insider Selling: Lincoln Electric (NASDAQ:LECO) CEO Sells $4,051,903.45 in Stock

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) CEO Steven Hedlund sold 14,371 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $281.95, for a total transaction of $4,051,903.45. Following the transaction, the chief executive officer owned 63,483 shares in the company, valued at $17,899,031.85. This represents a 18.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Lincoln Electric Price Performance

LECO stock opened at $279.33 on Thursday. The stock has a market capitalization of $15.13 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.67 and a beta of 1.19. The company’s 50-day moving average is $268.07 and its 200-day moving average is $266.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.91 and a quick ratio of 1.18. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Tuesday, October 27th. The industrial products company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.81 by $0.17. Lincoln Electric had a return on equity of 40.06% and a net margin of 12.40%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $2.47 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts expect that Lincoln Electric Holdings, Inc. will post 11.38 EPS for the current fiscal year.

Lincoln Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a $0.87 dividend. The ex-dividend date is Thursday, December 31st. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a yield of 1.2%. Lincoln Electric’s dividend payout ratio is currently 30.30%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LECO shares. Weiss Ratings downgraded Lincoln Electric from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Stifel Nicolaus upped their target price on Lincoln Electric from $271.00 to $290.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. Barclays increased their target price on Lincoln Electric from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Morgan Stanley lifted their price target on shares of Lincoln Electric from $283.00 to $293.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 28th. Finally, Robert W. Baird boosted their price target on shares of Lincoln Electric from $317.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $319.11.

Institutional Investors Weigh In On Lincoln Electric

Several institutional investors have recently added to or reduced their stakes in the business. Lido Advisors LLC bought a new position in Lincoln Electric in the 3rd quarter valued at $518,000. Csenge Advisory Group bought a new position in shares of Lincoln Electric in the third quarter worth $514,000. New York Life Investment Management LLC raised its position in shares of Lincoln Electric by 14.3% in the third quarter. New York Life Investment Management LLC now owns 1,287 shares of the industrial products company’s stock worth $341,000 after buying an additional 161 shares in the last quarter. AlphaCore Capital LLC raised its position in shares of Lincoln Electric by 11.0% in the third quarter. AlphaCore Capital LLC now owns 1,164 shares of the industrial products company’s stock worth $308,000 after buying an additional 115 shares in the last quarter. Finally, Burton Enright Welch boosted its stake in Lincoln Electric by 8.8% during the third quarter. Burton Enright Welch now owns 24,766 shares of the industrial products company’s stock valued at $6,553,000 after buying an additional 2,002 shares during the period. 79.61% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.