Bull Harbor Capital LLC Invests $985,000 in Lincoln Electric Holdings, Inc. $LECO

Bull Harbor Capital LLC purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,953 shares of the industrial products company’s stock, valued at approximately $985,000.

Several other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in Lincoln Electric by 8.6% in the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 197 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Lincoln Electric by 553.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after buying an additional 963 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Lincoln Electric by 8.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock worth $68,582,000 after buying an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Lincoln Electric by 8.7% in 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 valued at $26,017,000 after acquiring an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 255 shares during the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction dated Tuesday, June 16th. The stock was 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 $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. 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 report on Tuesday, May 5th. Wall Street Zen lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a report on Friday, May 1st. Weiss Ratings raised Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Finally, DA Davidson initiated coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $299.38.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $257.99 on Thursday. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. The company has a 50 day moving average price of $260.06 and a 200 day moving average price of $263.72. The firm has a market capitalization of $14.14 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 1.64 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business earned $2.16 EPS. Lincoln Electric’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.85 EPS for the current year.

Lincoln Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric’s dividend payout ratio is currently 32.61%.

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.