Trade Report: Today, Private Trust Co. NA Reached $1,650,000 position of Lincoln Electric Holdings Inc. (LECO)

Today, Private Trust Co. NA Reached $1,650,000 position  of Lincoln Electric Holdings Inc. (LECO)

Private Trust Co. NA maintained its position in shares of Lincoln Electric Holdings Inc. (NASDAQ:LECO) during the third quarter, Holdings Channel reports. The fund owned 26,350 shares of the company’s stock at the end of the third quarter. Private Trust Co. NA’s holdings in Lincoln Electric Holdings were worth $1,650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Lincoln Electric Holdings by 244.1% in the second quarter. JPMorgan Chase & Co. now owns 833,164 shares of the company’s stock valued at $49,223,000 after buying an additional 591,008 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Lincoln Electric Holdings during the second quarter valued at approximately $21,926,000. Lodge Hill Capital LLC acquired a new position in shares of Lincoln Electric Holdings during the second quarter valued at approximately $18,906,000. Thrivent Financial for Lutherans increased its position in shares of Lincoln Electric Holdings by 1,147.4% in the second quarter. Thrivent Financial for Lutherans now owns 335,920 shares of the company’s stock valued at $19,846,000 after buying an additional 308,990 shares during the last quarter. Finally, RidgeWorth Capital Management LLC acquired a new position in shares of Lincoln Electric Holdings during the second quarter valued at approximately $15,990,000. 66.90% of the stock is owned by hedge funds and other institutional investors.

Shares of Lincoln Electric Holdings Inc. (NASDAQ:LECO) traded down 0.18% during mid-day trading on Monday, reaching $77.04. The company had a trading volume of 316,013 shares. The stock has a 50 day moving average price of $68.27 and a 200 day moving average price of $63.21. The firm has a market capitalization of $5.09 billion, a PE ratio of 27.70 and a beta of 0.81. Lincoln Electric Holdings Inc. has a 12-month low of $45.54 and a 12-month high of $78.08.

Lincoln Electric Holdings (NASDAQ:LECO) last released its quarterly earnings results on Friday, October 21st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. Lincoln Electric Holdings had a return on equity of 26.69% and a net margin of 8.50%. The firm had revenue of $567 million for the quarter, compared to analysts’ expectations of $549.04 million. During the same quarter last year, the firm posted $0.89 EPS. The company’s revenue was down 12.0% compared to the same quarter last year. On average, equities analysts forecast that Lincoln Electric Holdings Inc. will post $3.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Saturday, December 31st will be issued a $0.35 dividend. The ex-dividend date is Wednesday, December 28th. This represents a $1.40 annualized dividend and a dividend yield of 1.82%. This is a boost from Lincoln Electric Holdings’s previous quarterly dividend of $0.32. Lincoln Electric Holdings’s dividend payout ratio (DPR) is presently 46.04%.

LECO has been the subject of several research analyst reports. Deutsche Bank AG initiated coverage on Lincoln Electric Holdings in a research note on Tuesday, September 6th. They set a “hold” rating and a $70.00 target price for the company. Longbow Research downgraded Lincoln Electric Holdings from a “neutral” rating to an “underperform” rating and set a $57.00 target price for the company. in a research note on Monday, October 24th. Northcoast Research downgraded Lincoln Electric Holdings from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 15th. Zacks Investment Research upgraded Lincoln Electric Holdings from a “sell” rating to a “hold” rating in a report on Friday, October 14th. Finally, Barclays PLC boosted their price target on Lincoln Electric Holdings from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $65.44.

In other Lincoln Electric Holdings news, insider Vincent K. Petrella sold 27,280 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $75.05, for a total value of $2,047,364.00. Following the sale, the insider now owns 83,892 shares of the company’s stock, valued at approximately $6,296,094.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Geoffrey P. Allman sold 3,080 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $72.72, for a total value of $223,977.60. Following the completion of the sale, the vice president now directly owns 6,690 shares in the company, valued at approximately $486,496.80. The disclosure for this sale can be found here. 3.27% of the stock is owned by company insiders.

About Lincoln Electric Holdings

Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.

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