Pictet Asset Management Holding SA Raises Stock Holdings in Lincoln Electric Holdings, Inc. $LECO

Pictet Asset Management Holding SA increased its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1,315.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,227 shares of the industrial products company’s stock after buying an additional 109,872 shares during the period. Pictet Asset Management Holding SA’s holdings in Lincoln Electric were worth $29,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new stake in Lincoln Electric during the 4th quarter worth approximately $27,000. Summit Securities Group LLC purchased a new position in shares of Lincoln Electric in the fourth quarter valued at approximately $46,000. Geneos Wealth Management Inc. boosted its stake 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 last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Lincoln Electric during the fourth quarter worth approximately $64,000. Finally, United Community Bank purchased a new stake in shares of Lincoln Electric during the fourth quarter worth $65,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LECO. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research note on Friday, May 1st. 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 for the company. Barclays raised their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Morgan Stanley reiterated an “underweight” rating and issued a $250.00 target price on shares of Lincoln Electric in a report on Monday, May 4th. Finally, Wall Street Zen lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. 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’s stock. According to MarketBeat.com, Lincoln Electric currently has an average rating of “Hold” and an average price target of $299.00.

Lincoln Electric Stock Up 0.5%

LECO stock opened at $265.51 on Wednesday. The company’s 50 day moving average price is $264.04 and its 200 day moving average price is $262.38. 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 Holdings, Inc. has a fifty-two week low of $205.36 and a fifty-two week high of $310.00. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.63 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 earnings per share. On average, equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric’s payout ratio is 32.61%.

Insiders Place Their Bets

In other news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction on Tuesday, June 16th. The shares were 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 $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.68% of the company’s stock.

Lincoln Electric Company 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.