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

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

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

Lincoln Electric Stock Down 0.7 %

NASDAQ LECO opened at $192.20 on Wednesday. The stock’s 50 day simple moving average is $188.58 and its 200 day simple moving average is $202.97. Lincoln Electric Holdings, Inc. has a one year low of $164.00 and a one year high of $261.13. The firm has a market cap of $10.94 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.14. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.06 and a quick ratio of 1.31.

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

Insider Buying and Selling at Lincoln Electric

In other news, SVP Michael J. Whitehead sold 1,100 shares of the company’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 transaction, the senior vice president now directly owns 11,178 shares in the company, valued at approximately $1,966,880.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Lincoln Electric Company 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.