Hsbc Holdings PLC Has $1.86 Million Stock Holdings in Lincoln Electric Holdings, Inc. $LECO

Hsbc Holdings PLC trimmed its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 49.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,503 shares of the industrial products company’s stock after selling 7,478 shares during the quarter. Hsbc Holdings PLC’s holdings in Lincoln Electric were worth $1,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LECO. Elyxium Wealth LLC acquired a new stake in shares of Lincoln Electric in the 4th quarter valued at $27,000. Summit Securities Group LLC acquired a new position in Lincoln Electric during the fourth quarter worth $46,000. Geneos Wealth Management Inc. increased its position in Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after buying an additional 255 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Lincoln Electric during the fourth quarter valued at about $64,000. Finally, United Community Bank bought a new position in Lincoln Electric during the fourth quarter valued at about $65,000. Institutional investors own 79.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LECO. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Morgan Stanley boosted their target price on Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a report on Friday, July 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. DA Davidson assumed coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target on the stock. Finally, Barclays lifted their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $299.38.

Insider Buying and Selling

In other news, EVP Michael J. Whitehead sold 845 shares of the company’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 transaction of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.68% of the stock is currently owned by corporate insiders.

Lincoln Electric Stock Performance

Shares of NASDAQ:LECO opened at $251.47 on Monday. The company has a market cap of $13.78 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.54 and a beta of 1.20. The stock’s 50-day moving average is $259.93 and its 200-day moving average is $263.48. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Lincoln Electric Holdings, Inc. will post 10.85 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 30th. 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.