Hsbc Holdings PLC Takes Position in Lincoln Electric Holdings, Inc. $LECO

Hsbc Holdings PLC purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,492,506 shares of the industrial products company’s stock, valued at approximately $52,700,000. Hsbc Holdings PLC owned 2.74% of Lincoln Electric as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in Lincoln Electric by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after purchasing an additional 197 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Lincoln Electric by 553.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock valued at $215,000 after buying an additional 963 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 worth $26,017,000 after buying an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Lincoln Electric by 980.8% in 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 period. 79.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays upped their price objective on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. UBS Group started coverage on Lincoln Electric in a research note on Monday, August 10th. They set a “buy” rating and a $340.00 price target for the company. Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $257.00 to $283.00 in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Finally, DA Davidson assumed coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $307.22.

Lincoln Electric Trading Up 3.6%

Shares of Lincoln Electric stock opened at $290.12 on Thursday. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The company has a market capitalization of $15.81 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.68 and a beta of 1.20. The company has a fifty day moving average of $266.89 and a 200 day moving average of $266.03.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $2.60 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio (DPR) is 31.57%.

Insider Transactions at Lincoln Electric

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 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 approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.68% of the company’s stock.

About Lincoln Electric

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.