The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Lincoln Electric Holdings, Inc. shares valued at $20,639,041 were sold by MAPES CHRISTOPHER L on Mar 14 ’24. At $247.20 per share, MAPES CHRISTOPHER L sold 83,490 shares. The insider’s holdings dropped to 107,267 shares worth approximately $24.45 million following the completion of this transaction.
Also, MAPES CHRISTOPHER L sold 76,365 shares, netting a total of over 19,090,068 in proceeds. Following the sale of shares at $249.98 each, the insider now holds 107,267 shares.
Before that, MAPES CHRISTOPHER L had sold 17,439 shares from its account. In a trade valued at $4,413,974, the EXECUTIVE CHAIRMAN traded Lincoln Electric Holdings, Inc. shares for $253.11 each. Upon closing the transaction, the insider’s holdings decreased to 17,439 shares, worth approximately $24.45 million.
As published in their initiating research note from Morgan Stanley on January 08, 2024, Lincoln Electric Holdings, Inc. [LECO] has been an Underweight and the price target has been revised to $178. Analysts at Seaport Research Partners upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late October. As of September 27, 2023, UBS has initiated its “Sell” rating for LECO. Earlier on July 21, 2023, Oppenheimer downgraded its rating. Their new recommendation was “a Perform” for LECO stock which previously was a “an Outperform”.
Analyzing LECO Stock Performance
During the last five days, there has been a drop of approximately -4.60%. Over the course of the year, Lincoln Electric Holdings, Inc. shares have jumped approximately 4.81%. Shares of the company reached a 52-week high of $261.13 on 03/21/24 and a 52-week low of $207.28 on 01/11/24. A 50-day SMA is recorded $248.15, while a 200-day SMA reached $210.08. Nevertheless, trading volume fell to 0.75 million shares from 0.18 million shares the previous day.
Support And Resistance Levels for Lincoln Electric Holdings, Inc. (LECO)
According to the 24-hour chart, there is a support level at 222.07, which, if violated, would cause prices to drop to 216.22. In the upper region, resistance lies at 233.74. The next price resistance is at 239.56. RSI (Relative Strength Index) is 30.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.95, which suggests the price will decrease in the coming days. Percent R is at 79.03%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
