PNC Financial Services Group Inc. Boosts Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

PNC Financial Services Group Inc. increased its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,951 shares of the industrial products company’s stock after purchasing an additional 2,610 shares during the period. PNC Financial Services Group Inc.’s holdings in Lincoln Electric were worth $1,859,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in Lincoln Electric by 0.4% in the first quarter. Swiss National Bank now owns 112,700 shares of the industrial products company’s stock worth $7,776,000 after acquiring an additional 500 shares in the last quarter. Aigen Investment Management LP bought a new stake in Lincoln Electric in the first quarter worth $52,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Lincoln Electric by 61.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,840 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 2,613 shares in the last quarter. Trillium Asset Management LLC lifted its holdings in shares of Lincoln Electric by 3.9% during the first quarter. Trillium Asset Management LLC now owns 32,382 shares of the industrial products company’s stock valued at $2,234,000 after purchasing an additional 1,226 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Lincoln Electric by 21.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,347 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 943 shares in the last quarter. 74.50% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on LECO shares. Oppenheimer reiterated a “hold” rating on shares of Lincoln Electric in a research report on Tuesday, May 5th. Vertical Research upgraded Lincoln Electric from a “sell” rating to a “hold” rating in a research report on Monday, March 2nd. Robert W. Baird reduced their price objective on Lincoln Electric from $105.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Barclays reiterated a “hold” rating and set a $75.00 price objective on shares of Lincoln Electric in a research report on Thursday, April 16th. Finally, Zacks Investment Research cut Lincoln Electric from a “hold” rating to a “sell” rating and set a $76.00 price objective for the company. in a research report on Tuesday, April 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Lincoln Electric presently has a consensus rating of “Hold” and a consensus target price of $80.25.

Shares of LECO opened at $83.82 on Wednesday. The business’s 50 day moving average is $76.44 and its 200 day moving average is $85.52. The company has a market capitalization of $4.73 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. Lincoln Electric Holdings, Inc. has a 12-month low of $59.29 and a 12-month high of $98.32. The company has a current ratio of 1.62, a quick ratio of 1.01 and a debt-to-equity ratio of 1.07.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Monday, April 27th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.00. Lincoln Electric had a return on equity of 35.65% and a net margin of 9.41%. The business had revenue of $701.99 million for the quarter, compared to the consensus estimate of $713.23 million. During the same quarter in the previous year, the company posted $1.17 EPS. The company’s revenue was down 7.5% compared to the same quarter last year. Equities research analysts predict that Lincoln Electric Holdings, Inc. will post 2.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Monday, June 29th. Lincoln Electric’s payout ratio is 41.70%.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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