Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Shares Purchased by First Republic Investment Management Inc.
First Republic Investment Management Inc. increased its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 30.2% in the third quarter, according to its most recent SEC filing. The fund owned 12,454 shares of the industrial products company after purchasing an additional 2,890 shares during the period. First Republic Investment Management Inc.’s holdings in Lincoln Electric were worth $1,566,000 at the end of the most recent quarter.
Other institutional investors have also recently increased or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake in Lincoln Electric by 219.5% in the second quarter. Los Angeles Capital Management LLC now owns 44,912 shares of the industrial products company valued at $5,540,000 after purchasing an additional 30,853 shares last quarter. The Ontario Teachers Pension Plan Board increased its stake in Lincoln Electric stock by 7.6% in the second quarter. The Ontario Teachers Pension Plan Board now owns 7,438 shares of the industrial products company, valued at $918,000, after acquiring an additional 527 shares last quarter. Sciencast Management LP purchased a new position in Lincoln Electric stock valued at $246,000 during the second quarter. The Illinois Municipal Retirement Fund increased its stake in Lincoln Electric stock by 68.1% in the second quarter. The Illinois Municipal Retirement Fund now owns 17,843 shares of the industrial products company valued at $2,201,000 after purchasing an additional 7,226 shares last quarter. Finally, Lazard Asset Management LLC increased its stake in Lincoln Electric by 63.3% during the second quarter. Lazard Asset Management LLC now owns 418 shares of the $51,000 industrial products company after purchasing an additional 162 shares last quarter. Institutional investors and hedge funds own 73.25% of the company’s shares.
Analyst upgrades and downgrades
Several equity analysts have commented on LECO shares. Stifel Nicolaus increased his price target on Lincoln Electric shares to $156.00 from $149.00 and issued a research note on Friday, January 20th, with a “hold” rating of the stock. Robert W. Baird increased his target price on Lincoln Electric shares from $150.00 to $152.00 in a research note on Thursday, October 27. StockNews.com upgraded shares of Lincoln Electric from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 25th. Oppenheimer raised its price target on Lincoln Electric shares to $170.00 from $167.00 and gave the stock a “Outperform” rating in a research note on Thursday, January 26. Finally, on Wednesday, December 14th, Morgan Stanley raised its price target on shares of Lincoln Electric to $149.00 in a research note. Three research analysts have rated the stock with a hold rating, one with a buy rating and one with a strong buy rating on the company. According to data from MarketBeat, Lincoln Electric currently has an average rating of Moderate Buy and a consensus price target of $156.75.
insider activity
In addition, COO Steven B. Hedlund sold 5,991 shares of the company’s shares in a transaction on Wednesday, November 23. The shares sold at an average price of $150.10 for a total value of $899,249.10. Upon completion of the sale, the Chief Operating Officer now directly owns 36,843 shares of the Company, valued at $5,530,134.30. The sale was disclosed in a filing with the Securities & Exchange Commission available at this link. In related news, CFO Gabriel Bruno sold 2,482 shares of the stock in a transaction on Tuesday, December 13th. The shares sold at an average price of $150.15 for a total transaction of $372,672.30. Upon completion of the transaction, the Chief Financial Officer now directly owns 22,507 shares of the Company, valued at $3,379,426.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In addition, COO Steven B. Hedlund sold 5,991 shares of the stock in a transaction on Wednesday, November 23. The stock sold at an average price of $150.10 for a total transaction of $899,249.10. Following the transaction, the Chief Operating Officer now directly owns 36,843 shares of the Company, valued at $5,530,134.30. The disclosure for this sale can be found here. Over the past three months, insiders sold 19,921 shares of the company’s stock valued at $2,989,248. Insiders own 3.16% of the company’s shares.
Price performance from Lincoln Electric
Shares of LECO opened at $169.57 on Thursday. Lincoln Electric Holdings, Inc. has a 1 year low of $118.17 and a 1 year high of $170.74. The stock has a market cap of $9.79 billion, a P/E of 22.82, a price-to-earnings-to-growth ratio of 1.26, and a beta of 1.13. The company has a gearing ratio of 0.77, a current ratio of 1.70 and a quick ratio of 0.93. The company has a 50-day moving average price of $150.66 and a 200-day moving average price of $141.83.
Lincoln Electric Company Profile
(get rating)
Lincoln Electric Holdings, Inc is engaged in the manufacture of arc welders, welding consumables and other welding and cutting products. Welding products include arc welding power sources, wire feed systems, robotic welding packages, fume extractors, consumable electrodes and flux.
Featured Stories
This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team before publication. Please send questions or comments about this story to [email protected]
Hear this before you consider Lincoln Electric.
MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are softly whispering to their clients to buy now, before the broader market takes hold… and Lincoln Electric wasn’t on the list.
While Lincoln Electric is currently rated a Hold by analysts, top analysts believe these five stocks are better buys.
Check out the five stocks here
