FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

FARRELL GRETCHEN A 		2. Issuer Name and Ticker or Trading Symbol

LINCOLN ELECTRIC HOLDINGS INC [ LECO ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Sr. VP., H. R. & Compliance
(Last)          (First)          (Middle)

22801 ST. CLAIR AVENUE 		3. Date of Earliest Transaction (MM/DD/YYYY)

11/1/2011
(Street)

CLEVELAND, OH 44117-1199
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Shares   11/1/2011     M    5800   A $19.965   19699   (1) D    
Common Shares   11/1/2011     M    5106   A $21.985   24805   D    
Common Shares   11/1/2011     S    5800   D   (2) 19005   D    
Common Shares   11/1/2011     S    5106   D   (3) 13899   D    
Common Shares   11/2/2011     A    2770   A $ 0   (4) 16669   D    
Common Shares                  7349.152   (5) I   by 401(k)  
Common Shares                  6426.766   (6) I   SPP  
Common Shares                  21.345   I   by son  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy)   $19.965   11/1/2011     M         5800    11/30/2008   11/30/2015   Common Shares   5800   $19.965   0   D    
Employee Stock Option (Right to Buy)   $21.985   11/1/2011     M         5106      (7) 12/3/2018   Common Shares   5106   $21.985   2554   D    
Employee Stock Option (Right to Buy)   $35.55   11/2/2011     A      8630         (8) 11/2/2021   Common Shares   8630   $ 0   8630   D    

Explanation of Responses:
( 1)  On May 31, 2011, the common stock of Lincoln Electric Holdings, Inc. split 2-for-1, resulting in the reporting person's ownership of 6,050 additional shares of restricted stock. An additional 1,799 shares (pursuant to stock split) were deposited into the SPP and are reflected below in the amount in footnote 6. All other amounts and prices for equity awards issued prior to the stock split have also been adjusted.
( 2)  400 at $34.85; 600 at $34.88; 2582 at $34.77; 454 at $34.781; 300 at $34.771; 882 at $34.78; and 582 at $34.79.
( 3)  118 at $34.79; 883 at $34.80; 800 at $34.801; 937 at $34.81; 884 at $34.82; 585 at $34.83; 400 at $34.831; 99 at $34.84; and 400 at $34.85.
( 4)  Pursuant to restricted stock unit award.
( 5)  Held by trustee pursuant to The Lincoln Electric Company 401(k)plan. Holdings are reported on a unitized basis, which amount represents approximately 6,230.888 shares.
( 6)  On May 31, 2011, the common stock of Lincoln Electric Holdings, Inc. split 2-for-1, resulting in the reporting person's ownership of 4002.157 additional shares of common stock.
( 7)  Options for 2,553 shares became exercisable on December 3, 2009 and options for 2,553 shares became exercisable on December 3, 2010.
( 8)  The options become exercisable in three equal annual installments on November 2, 2012, November 2, 2013 and November 2, 2014.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
FARRELL GRETCHEN A
22801 ST. CLAIR AVENUE
CLEVELAND, OH 44117-1199

Sr. VP., H. R. & Compliance

Signatures
/s/ Jennifer I. Ansberry, Jennifer I. Ansberry as Attorney-in-Fact for Gretchen A. Farrell 11/3/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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