Ownership Submission
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)
V.P., Human Resources
(Last)
(First)
(Middle)
22801 ST. CLAIR AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
11/07/2006
(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 11/07/2006   M   3,334 A $ 23.9 0 D  
Common Shares 11/07/2006   S   3,334 D (1) 0 D  
Common Shares 11/07/2006   M   4,000 A $ 35.43 0 D  
Common Shares 11/07/2006   S   4,000 D (2) 1,380 D  
Common Shares               4,896.677 (3) I by 401(k)
Common Shares               1,424.924 I SPP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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
Common Shares $ 23.9 11/07/2006   M     3,334 10/08/2006 10/08/2013 Common Shares 3,334 $ 23.9 0 D  
Common Shares $ 35.43 11/07/2006   M     4,000 11/30/2005 11/30/2014 Common Shares 4,000 $ 35.43 8,000 D  

Reporting Owners

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

Signatures

 /s/ Gretchen A. Farrell   11/08/2006
**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) 139 shares sold at $60.85, 214 shares sold at $60.84, 760 shares sold at $60.80, 227 shares sold at $60.79, 100 shares sold at $60.78, 200 shares sold at $60.77, 100 shares sold at $60.74, 500 shares sold at $60.73, 902 shares sold at $60.72 and 192 shares sold at $60.71.
(2) 208 shares sold at $60.71, 400 shares sold at $60.70, 528 shares sold at $60.69, 200 shares sold at $60.68, 72 shares sold at $60.66, 200 shares sold at $60.67, 200 shares sold at $60.65, 100 shares sold at $60.64, 400 shares sold at $60.62, 1692 shares sold at $60.57.
(3) Held by trustee pursuant to The Lincoln Electric Company 401(k) plan. Holdings are reported on a unitized basis, which amount represents approximately 2,044.493 shares. Total adjusted to reflect 310.96 units acquired since Reporting Person's last report.

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