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 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(h) of the Investment Company Act of 1940

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(Print or Type Responses)

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 (Month/Day/Year) 11/01/2011 (Street) CLEVELAND, OH 44117-1199 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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 11/01/2011   M   5,800 A $ 19.965 19,699 (1) D   Common Shares 11/01/2011   M   5,106 A $ 21.985 24,805 D   Common Shares 11/01/2011   S   5,800 D (2) 19,005 D   Common Shares 11/01/2011   S   5,106 D (3) 13,899 D   Common Shares 11/02/2011   A   2,770 A $ 0 (4) 16,669 D   Common Shares               7,349.152 (5) I by 401(k) Common Shares               6,426.766 (6) I SPP Common Shares               21.345 I by son

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction 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 (Month/Day/Year)

7. Title and Amount of Underlying Securities (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

11/01/2011

M

5,800

11/30/2008

11/30/2015

Common Shares

5,800

$ 19.965

0

D

Employee Stock Option (Right to Buy)

$ 21.985

11/01/2011

M

5,106

(7)

12/03/2018

Common Shares

5,106

$ 21.985

2,554

D

Employee Stock Option (Right to Buy)

$ 35.55

11/02/2011

A

8,630

(8)

11/02/2021

Common Shares

8,630

$ 0

8,630

D

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		11/03/2011
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(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.

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