Ledyard National Bank Reduces Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Ledyard National Bank reduced its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 23.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,199 shares of the industrial products company's stock after selling 7,123 shares during the period. Ledyard National Bank's holdings in Lincoln Electric were worth $4,349,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. UMB Bank n.a. lifted its stake in shares of Lincoln Electric by 97.9% during the 3rd quarter. UMB Bank n.a. now owns 283 shares of the industrial products company's stock valued at $54,000 after buying an additional 140 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Lincoln Electric by 308.5% during the third quarter. Blue Trust Inc. now owns 335 shares of the industrial products company's stock worth $63,000 after acquiring an additional 253 shares in the last quarter. HM Payson & Co. bought a new position in shares of Lincoln Electric in the third quarter worth $65,000. Covestor Ltd raised its stake in shares of Lincoln Electric by 60.2% during the 3rd quarter. Covestor Ltd now owns 423 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 159 shares during the period. Finally, YANKCOM Partnership purchased a new stake in Lincoln Electric during the 4th quarter worth about $92,000. Hedge funds and other institutional investors own 79.61% of the company's stock.

Lincoln Electric Price Performance

Shares of NASDAQ LECO traded up $2.34 during mid-day trading on Monday, reaching $193.59. 140,250 shares of the company were exchanged, compared to its average volume of 246,516. Lincoln Electric Holdings, Inc. has a 52 week low of $169.51 and a 52 week high of $261.13. The company's 50 day moving average price is $195.66 and its 200 day moving average price is $195.92. The stock has a market capitalization of $10.92 billion, a PE ratio of 23.11, a PEG ratio of 1.40 and a beta of 1.18. The company has a quick ratio of 1.20, a current ratio of 1.85 and a debt-to-equity ratio of 0.86.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. KeyCorp lifted their target price on Lincoln Electric from $210.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. StockNews.com raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th. Finally, Stifel Nicolaus cut their price target on shares of Lincoln Electric from $216.00 to $211.00 and set a "hold" rating for the company in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $229.50.

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.