K.J. Harrison & Partners Inc Purchases 5,000 Shares of Lincoln Electric Holdings, Inc. $LECO

K.J. Harrison & Partners Inc increased its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 71.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,000 shares of the industrial products company’s stock after purchasing an additional 5,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Lincoln Electric were worth $2,989,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new position in shares of Lincoln Electric during the fourth quarter valued at approximately $27,000. Summit Securities Group LLC bought a new stake in shares of Lincoln Electric during the 4th quarter worth approximately $46,000. Geneos Wealth Management Inc. lifted its stake in shares of Lincoln Electric by 980.8% during the 1st 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. V Square Quantitative Management LLC purchased a new position in Lincoln Electric during the 4th quarter valued at $64,000. Finally, United Community Bank purchased a new position in Lincoln Electric during the 4th quarter valued at $65,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on LECO shares. Weiss Ratings upgraded Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. Barclays raised their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. DA Davidson began coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Wall Street Zen cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Morgan Stanley restated an “underweight” rating and issued a $250.00 target price on shares of Lincoln Electric in a research note on Monday, May 4th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $299.00.

Lincoln Electric Stock Performance

Shares of NASDAQ LECO opened at $258.43 on Friday. Lincoln Electric Holdings, Inc. has a 1-year low of $213.71 and a 1-year high of $310.00. The business has a fifty day moving average price of $263.97 and a 200 day moving average price of $262.51. The stock has a market capitalization of $14.16 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 earnings per share. Equities research analysts expect that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. Lincoln Electric’s payout ratio is presently 32.61%.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.68% of the stock is currently owned by insiders.

Lincoln Electric 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.