Grove Bank & Trust Has $73,000 Stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Grove Bank & Trust reduced its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 20.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 381 shares of the industrial products company’s stock after selling 100 shares during the period. Grove Bank & Trust’s holdings in Lincoln Electric were worth $73,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Lincoln Electric by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,709,315 shares of the industrial products company’s stock valued at $1,458,387,000 after acquiring an additional 15,062 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in Lincoln Electric by 48.0% in the second quarter. EdgePoint Investment Group Inc. now owns 2,747,083 shares of the industrial products company’s stock valued at $518,210,000 after purchasing an additional 891,111 shares during the last quarter. Capital International Investors lifted its stake in Lincoln Electric by 7.0% in the first quarter. Capital International Investors now owns 1,856,125 shares of the industrial products company’s stock valued at $474,129,000 after buying an additional 121,914 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Lincoln Electric by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 525,647 shares of the industrial products company’s stock worth $99,155,000 after buying an additional 38,206 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI grew its position in shares of Lincoln Electric by 0.3% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 226,846 shares of the industrial products company’s stock worth $57,946,000 after buying an additional 598 shares during the period. 79.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lincoln Electric

In other news, SVP Michael J. Whitehead sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.96, for a total transaction of $193,556.00. Following the completion of the transaction, the senior vice president now directly owns 11,178 shares of the company’s stock, valued at $1,966,880.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.63% of the company’s stock.

Lincoln Electric Trading Down 0.7 %

Shares of NASDAQ:LECO opened at $192.20 on Wednesday. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.43 and a beta of 1.14. Lincoln Electric Holdings, Inc. has a 12 month low of $164.00 and a 12 month high of $261.13. The company’s fifty day simple moving average is $188.58 and its 200 day simple moving average is $202.97. The company has a quick ratio of 1.31, a current ratio of 2.06 and a debt-to-equity ratio of 0.84.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Lincoln Electric had a return on equity of 42.24% and a net margin of 12.48%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. As a group, research analysts forecast that Lincoln Electric Holdings, Inc. will post 8.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird cut their price target on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. StockNews.com cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Stifel Nicolaus upped their price objective on shares of Lincoln Electric from $209.00 to $213.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Lincoln Electric has an average rating of “Hold” and a consensus price target of $226.33.

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.