Empower Advisory Group LLC lifted its holdings in Linde plc (NASDAQ:LIN - Free Report) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,304 shares of the basic materials company's stock after buying an additional 11,151 shares during the quarter. Empower Advisory Group LLC's holdings in Linde were worth $82,165,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Summit Securities Group LLC bought a new position in shares of Linde in the 2nd quarter worth approximately $28,000. Strategic Financial Concepts LLC bought a new position in shares of Linde in the 2nd quarter worth approximately $33,000. Kozak & Associates Inc. purchased a new stake in Linde in the 3rd quarter worth approximately $34,000. J.Safra Asset Management Corp purchased a new stake in Linde in the 2nd quarter worth approximately $42,000. Finally, Capital Performance Advisors LLP purchased a new stake in Linde in the 3rd quarter worth approximately $43,000. 82.80% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Linde
In other Linde news, VP John Panikar sold 10,025 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the completion of the sale, the vice president now owns 17,584 shares of the company's stock, valued at approximately $8,136,996. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by company insiders.
Analyst Ratings Changes
LIN has been the topic of a number of research analyst reports. Bank of America boosted their price target on Linde from $495.00 to $516.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Mizuho upped their target price on Linde from $520.00 to $530.00 and gave the company an "outperform" rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Linde from $430.00 to $480.00 and gave the company an "overweight" rating in a report on Monday, August 5th. Barclays upped their target price on Linde from $460.00 to $510.00 and gave the company an "overweight" rating in a report on Monday, August 5th. Finally, BMO Capital Markets upped their target price on Linde from $477.00 to $507.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $490.75.
Read Our Latest Stock Analysis on LIN
Linde Price Performance
Shares of LIN traded up $1.04 during mid-day trading on Wednesday, hitting $456.63. The company's stock had a trading volume of 627,432 shares, compared to its average volume of 1,830,595. The firm has a 50-day simple moving average of $470.79 and a 200 day simple moving average of $452.58. The firm has a market capitalization of $217.43 billion, a P/E ratio of 34.55, a P/E/G ratio of 2.92 and a beta of 0.94. Linde plc has a 1-year low of $396.07 and a 1-year high of $487.49. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43.
Linde (NASDAQ:LIN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, topping analysts' consensus estimates of $3.89 by $0.05. Linde had a return on equity of 18.16% and a net margin of 19.33%. The company had revenue of $8.36 billion during the quarter, compared to analysts' expectations of $8.39 billion. During the same period in the previous year, the firm posted $3.63 earnings per share. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts predict that Linde plc will post 15.48 EPS for the current fiscal year.
Linde Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, December 3rd. Linde's dividend payout ratio (DPR) is presently 42.22%.
About Linde
(
Free Report)
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.
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