Advisors Asset Management Inc. Buys 2,507 Shares of Linde plc (NASDAQ:LIN)

Advisors Asset Management Inc. boosted its stake in shares of Linde plc (NASDAQ:LIN - Free Report) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,113 shares of the basic materials company's stock after acquiring an additional 2,507 shares during the quarter. Advisors Asset Management Inc.'s holdings in Linde were worth $10,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC bought a new position in shares of Linde during the fourth quarter valued at about $25,000. Rakuten Securities Inc. raised its position in Linde by 1,160.0% during the 4th quarter. Rakuten Securities Inc. now owns 63 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 58 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Linde in the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates grew its position in shares of Linde by 144.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 71 shares of the basic materials company's stock worth $30,000 after buying an additional 42 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Linde during the fourth quarter valued at approximately $34,000. 82.80% of the stock is currently owned by institutional investors.

Linde Stock Up 0.1 %

NASDAQ LIN traded up $0.58 during trading hours on Friday, reaching $458.33. 4,967,504 shares of the company's stock traded hands, compared to its average volume of 1,723,335. Linde plc has a 52-week low of $410.69 and a 52-week high of $487.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.89 and a quick ratio of 0.76. The firm has a 50-day simple moving average of $452.96 and a 200 day simple moving average of $454.35. The firm has a market cap of $216.75 billion, a PE ratio of 33.68, a PEG ratio of 3.08 and a beta of 0.94.

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Linde (NASDAQ:LIN - Get Free Report) last released its earnings results on Thursday, February 6th. The basic materials company reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $0.04. Linde had a net margin of 19.89% and a return on equity of 18.71%. Sell-side analysts anticipate that Linde plc will post 16.54 EPS for the current fiscal year.

Linde Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.50 dividend. This is a boost from Linde's previous quarterly dividend of $1.39. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, March 13th. Linde's dividend payout ratio is currently 44.09%.

Insider Activity

In related news, VP David P. Strauss sold 2,477 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $469.74, for a total value of $1,163,545.98. Following the transaction, the vice president now directly owns 1,300 shares of the company's stock, valued at approximately $610,662. This represents a 65.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Wood sold 2,900 shares of Linde stock in a transaction on Monday, February 10th. The stock was sold at an average price of $456.26, for a total value of $1,323,154.00. Following the completion of the sale, the director now directly owns 14,013 shares of the company's stock, valued at approximately $6,393,571.38. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,159 shares of company stock worth $5,603,843 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. TD Cowen upgraded shares of Linde from a "hold" rating to a "buy" rating and lifted their price target for the company from $480.00 to $515.00 in a report on Monday, January 13th. Citigroup cut their target price on shares of Linde from $490.00 to $480.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $501.82.

About Linde

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.