Trust Point Inc. Sells 83 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Trust Point Inc. trimmed its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,454 shares of the industrial products company’s stock after selling 83 shares during the period. Trust Point Inc.’s holdings in Lincoln Electric were worth $471,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management boosted its holdings in Lincoln Electric by 4.8% in the third quarter. Ritholtz Wealth Management now owns 1,303 shares of the industrial products company’s stock valued at $250,000 after acquiring an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Lincoln Electric by 174.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 68 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Lincoln Electric by 194.4% in the 1st quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 70 shares during the last quarter. Financial Counselors Inc. grew its position in shares of Lincoln Electric by 0.3% during the 1st quarter. Financial Counselors Inc. now owns 26,125 shares of the industrial products company’s stock worth $6,673,000 after buying an additional 71 shares during the period. Finally, Quarry LP raised its stake in shares of Lincoln Electric by 41.5% during the second quarter. Quarry LP now owns 300 shares of the industrial products company’s stock worth $57,000 after buying an additional 88 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Up 2.5 %

Shares of NASDAQ:LECO opened at $203.10 on Friday. Lincoln Electric Holdings, Inc. has a 12-month low of $164.00 and a 12-month high of $261.13. The company has a quick ratio of 1.31, a current ratio of 2.06 and a debt-to-equity ratio of 0.84. The firm has a market cap of $11.56 billion, a P/E ratio of 21.56, a P/E/G ratio of 1.43 and a beta of 1.14. The business has a fifty day simple moving average of $189.19 and a 200 day simple moving average of $202.54.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.04. Lincoln Electric had a net margin of 12.48% and a return on equity of 42.24%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts predict that Lincoln Electric Holdings, Inc. will post 8.95 earnings per share for the current year.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, SVP Michael J. Whitehead sold 1,100 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.96, for a total value of $193,556.00. Following the transaction, the senior vice president now owns 11,178 shares of the company’s stock, valued at approximately $1,966,880.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LECO shares. Stifel Nicolaus raised their price objective on shares of Lincoln Electric from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday. Robert W. Baird reduced their target price on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, StockNews.com cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lincoln Electric has a consensus rating of “Hold” and a consensus price target of $221.67.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.