Generali Asset Management SPA SGR bought a new stake in Linde plc (NASDAQ:LIN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,697 shares of the basic materials company's stock, valued at approximately $17,876,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new position in shares of Linde during the 4th quarter valued at $25,000. Rakuten Securities Inc. lifted its position in shares of Linde by 1,160.0% in the 4th quarter. Rakuten Securities Inc. now owns 63 shares of the basic materials company's stock worth $26,000 after purchasing an additional 58 shares during the period. Global Wealth Strategies & Associates lifted 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 purchasing an additional 42 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Linde in the 4th quarter worth about $34,000. Finally, Kozak & Associates Inc. increased its stake in shares of Linde by 38.6% in the 4th quarter. Kozak & Associates Inc. now owns 97 shares of the basic materials company's stock worth $40,000 after acquiring an additional 27 shares in the last quarter. 82.80% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Robert L. Wood sold 2,900 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $456.26, for a total transaction of $1,323,154.00. Following the transaction, the director now owns 14,013 shares of the company's stock, valued at approximately $6,393,571.38. This represents a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David P. Strauss sold 2,477 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $469.74, for a total transaction of $1,163,545.98. Following the transaction, the vice president now directly owns 1,300 shares in the company, valued at approximately $610,662. This represents a 65.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,159 shares of company stock valued at $5,603,843 over the last ninety days. Corporate insiders own 0.60% of the company's stock.
Linde Price Performance
LIN stock traded up $0.58 during mid-day trading on Friday, reaching $458.33. The company's stock had a trading volume of 4,967,504 shares, compared to its average volume of 1,723,191. The stock has a market cap of $216.75 billion, a PE ratio of 33.68, a P/E/G ratio of 3.08 and a beta of 0.94. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Linde plc has a fifty-two week low of $410.69 and a fifty-two week high of $487.49. The company's 50 day moving average is $452.96 and its two-hundred day moving average is $454.49.
Linde (NASDAQ:LIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $3.97 earnings per share for the quarter, topping analysts' consensus estimates of $3.93 by $0.04. Linde had a net margin of 19.89% and a return on equity of 18.71%. Equities research analysts expect that Linde plc will post 16.54 EPS for the current year.
Linde Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Linde's previous quarterly dividend of $1.39. The ex-dividend date is Thursday, March 13th. Linde's dividend payout ratio is presently 44.09%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on LIN. Citigroup reduced their price objective on shares of Linde from $490.00 to $480.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. TD Cowen upgraded shares of Linde from a "hold" rating to a "buy" rating and upped their price target for the stock from $480.00 to $515.00 in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Linde has an average rating of "Moderate Buy" and a consensus price target of $501.82.
Read Our Latest Stock Analysis on Linde
Linde Company Profile
(
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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