Lincoln Electric Holdings, Inc. (LECO) Stake Lowered by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can trimmed its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,675 shares of the industrial products company’s stock after selling 699 shares during the period. Great West Life Assurance Co. Can owned about 0.05% of Lincoln Electric worth $3,273,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Lincoln Electric by 4.9% during the second quarter. JPMorgan Chase & Co. now owns 1,270,096 shares of the industrial products company’s stock valued at $116,964,000 after acquiring an additional 59,464 shares during the last quarter. FMR LLC bought a new position in Lincoln Electric in the second quarter worth about $23,713,000. The Manufacturers Life Insurance Company raised its stake in Lincoln Electric by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 91,019 shares of the industrial products company’s stock worth $8,381,000 after buying an additional 1,739 shares in the last quarter. Tradition Capital Management LLC raised its stake in Lincoln Electric by 1,469.7% in the second quarter. Tradition Capital Management LLC now owns 45,426 shares of the industrial products company’s stock worth $4,183,000 after buying an additional 42,532 shares in the last quarter. Finally, Alps Advisors Inc. bought a new position in Lincoln Electric in the third quarter worth about $483,000. 63.66% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on LECO. B. Riley reissued a “buy” rating on shares of Lincoln Electric in a research note on Wednesday, November 1st. Zacks Investment Research downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Royal Bank of Canada reissued a “hold” rating on shares of Lincoln Electric in a research note on Monday, October 30th. Oppenheimer reissued a “hold” rating on shares of Lincoln Electric in a research note on Monday, October 30th. Finally, Stifel Nicolaus decreased their price target on shares of Lincoln Electric from $100.00 to $92.00 and set a “hold” rating for the company in a research note on Monday, October 30th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Lincoln Electric presently has a consensus rating of “Hold” and an average price target of $96.43.
Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). The business had revenue of $669.50 million during the quarter, compared to analysts’ expectations of $658.48 million. Lincoln Electric had a return on equity of 28.97% and a net margin of 11.34%. Lincoln Electric’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. equities analysts expect that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Thursday, December 28th. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.35. Lincoln Electric’s dividend payout ratio is 33.65%.
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About Lincoln Electric
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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