Principal Financial Group Inc. Has $76.84 Million Stock Holdings in Lincoln Electric Holdings, Inc. $LECO

Principal Financial Group Inc. decreased its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,498 shares of the industrial products company’s stock after selling 30,294 shares during the quarter. Principal Financial Group Inc. owned approximately 0.56% of Lincoln Electric worth $76,842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Diamant Asset Management Inc. boosted its holdings in Lincoln Electric by 24,685.8% in the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock worth $956,360,000 after purchasing an additional 3,824,077 shares in the last quarter. Norges Bank acquired a new stake in shares of Lincoln Electric in the fourth quarter worth about $415,155,000. Geode Capital Management LLC boosted its stake in shares of Lincoln Electric by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock worth $313,175,000 after acquiring an additional 6,070 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Lincoln Electric by 14.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company’s stock worth $306,767,000 after acquiring an additional 158,305 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Lincoln Electric by 5,862.4% during the 4th quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock valued at $304,670,000 after acquiring an additional 1,250,041 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Analyst Ratings Changes

LECO has been the subject of several analyst reports. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. DA Davidson began coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target on the stock. Morgan Stanley restated an “underweight” rating and issued a $250.00 price objective on shares of Lincoln Electric in a research note on Monday, May 4th. 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, Barclays lifted their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lincoln Electric has an average rating of “Hold” and a consensus price target of $299.00.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $259.31 on Friday. Lincoln Electric Holdings, Inc. has a 1-year low of $216.22 and a 1-year high of $310.00. The firm has a market capitalization of $14.21 billion, a PE ratio of 26.76, a PEG ratio of 1.56 and a beta of 1.20. The business’s 50 day moving average is $261.98 and its 200-day moving average is $263.20. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $2.16 earnings per share. Lincoln Electric’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 10.82 earnings per share for the current year.

Insider Activity

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction 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 of the company’s stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.68% of the company’s stock.

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.