Geode Capital Management LLC Buys 6,070 Shares of Lincoln Electric Holdings, Inc. $LECO

Geode Capital Management LLC lifted its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,306,641 shares of the industrial products company’s stock after acquiring an additional 6,070 shares during the period. Geode Capital Management LLC’s holdings in Lincoln Electric were worth $313,175,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH boosted its stake in Lincoln Electric by 239.5% during the third quarter. Allianz Asset Management GmbH now owns 184,191 shares of the industrial products company’s stock valued at $43,438,000 after buying an additional 129,932 shares during the period. Picton Mahoney Asset Management bought a new stake in Lincoln Electric during the third quarter valued at $1,031,000. Azzad Asset Management Inc. ADV boosted its stake in Lincoln Electric by 37.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company’s stock valued at $3,811,000 after buying an additional 4,317 shares during the period. Tudor Investment Corp ET AL boosted its stake in Lincoln Electric by 3,475.4% during the third quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company’s stock valued at $12,100,000 after buying an additional 49,872 shares during the period. Finally, Magnetar Financial LLC bought a new stake in Lincoln Electric during the third quarter valued at $6,684,000. 79.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LECO shares. Roth Mkm reissued a “buy” rating and set a $297.00 price objective (up from $285.00) on shares of Lincoln Electric in a research note on Tuesday, February 3rd. Wall Street Zen lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Jefferies Financial Group reissued a “hold” rating and set a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Morgan Stanley reissued an “underweight” rating and set a $250.00 price objective on shares of Lincoln Electric in a research note on Monday, May 4th. Finally, Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $296.00.

Lincoln Electric Trading Down 2.4%

Shares of LECO stock opened at $252.17 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $258.02 and a two-hundred day moving average price of $257.76. Lincoln Electric Holdings, Inc. has a 12-month low of $188.65 and a 12-month high of $310.00. The firm has a market cap of $13.82 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 1.59 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.42 by $0.08. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. Equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.81 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.79 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.3%. Lincoln Electric’s payout ratio is currently 32.61%.

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.