Glenmede Trust Co. NA Sells 11,203 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Glenmede Trust Co. NA trimmed its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 13.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,964 shares of the industrial products company’s stock after selling 11,203 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.12% of Lincoln Electric worth $13,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LECO. Diversified Trust Co bought a new stake in shares of Lincoln Electric during the second quarter worth $1,125,000. Elios Financial Group Inc. bought a new stake in Lincoln Electric during the 3rd quarter valued at about $999,000. BDF Gestion purchased a new stake in Lincoln Electric in the 2nd quarter valued at about $1,858,000. Bridges Investment Management Inc. bought a new position in Lincoln Electric in the 2nd quarter worth about $834,000. Finally, Westfield Capital Management Co. LP increased its position in shares of Lincoln Electric by 3.5% during the third quarter. Westfield Capital Management Co. LP now owns 237,935 shares of the industrial products company’s stock worth $45,688,000 after acquiring an additional 7,962 shares during the period. 79.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LECO has been the subject of a number of research reports. Robert W. Baird lowered their price target on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. KeyCorp upped their target price on Lincoln Electric from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price target on Lincoln Electric from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, StockNews.com raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Lincoln Electric Trading Up 0.2 %

Shares of NASDAQ LECO opened at $216.62 on Friday. The business has a fifty day moving average price of $199.53 and a 200 day moving average price of $196.43. Lincoln Electric Holdings, Inc. has a 1-year low of $169.51 and a 1-year high of $261.13. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.85 and a quick ratio of 1.20. The stock has a market capitalization of $12.22 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.09. The business had revenue of $983.76 million for the quarter, compared to analysts’ expectations of $988.07 million. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the business earned $2.40 EPS. Equities research analysts expect that Lincoln Electric Holdings, Inc. will post 8.75 EPS for the current fiscal year.

Lincoln Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.75 dividend. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, December 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. Lincoln Electric’s dividend payout ratio (DPR) is presently 33.89%.

Insider Buying and Selling

In other Lincoln Electric news, SVP Michael J. Whitehead sold 1,100 shares of the business’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 sale, 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 8.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.63% of the stock is owned by company insiders.

About Lincoln Electric

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.