Linde (NASDAQ:LIN) Upgraded at TD Cowen

Linde (NASDAQ:LIN - Get Free Report) was upgraded by analysts at TD Cowen from a "hold" rating to a "buy" rating in a note issued to investors on Monday, Marketbeat reports. The firm presently has a $515.00 target price on the basic materials company's stock, up from their previous target price of $480.00. TD Cowen's target price suggests a potential upside of 22.20% from the stock's previous close.

Several other equities research analysts have also issued reports on LIN. Mizuho raised their price objective on Linde from $520.00 to $530.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. BMO Capital Markets raised their price objective on Linde from $477.00 to $507.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Erste Group Bank restated a "hold" rating on shares of Linde in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised their price objective on Linde from $510.00 to $515.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Citigroup cut their price target on Linde from $490.00 to $480.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $495.75.

Linde Price Performance

Shares of NASDAQ:LIN traded up $7.28 during trading on Monday, hitting $421.43. 2,824,494 shares of the company's stock were exchanged, compared to its average volume of 2,523,885. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81. Linde has a 52-week low of $396.07 and a 52-week high of $487.49. The business's 50-day simple moving average is $439.96 and its 200 day simple moving average is $453.30. The company has a market cap of $200.67 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 2.79 and a beta of 0.94.

Linde (NASDAQ:LIN - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, beating 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 analyst estimates of $8.39 billion. During the same period in the prior year, the company earned $3.63 earnings per share. The firm's revenue was up 1.9% on a year-over-year basis. As a group, equities analysts predict that Linde will post 15.48 EPS for the current year.

Insider Activity

In related news, VP David P. Strauss sold 2,218 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $434.35, for a total value of $963,388.30. Following the completion of the sale, the vice president now owns 25,926 shares of the company's stock, valued at approximately $11,260,958.10. This trade represents a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paula Rosput Reynolds purchased 100 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average cost of $441.34 per share, with a total value of $44,134.00. Following the acquisition, the director now owns 233 shares of the company's stock, valued at approximately $102,832.22. The trade was a 75.19 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LIN. Redwood Wealth Management Group LLC purchased a new position in shares of Linde during the second quarter worth $58,000. One Capital Management LLC boosted its position in shares of Linde by 71.9% during the second quarter. One Capital Management LLC now owns 1,095 shares of the basic materials company's stock worth $480,000 after buying an additional 458 shares during the period. Citizens Financial Group Inc. RI boosted its position in shares of Linde by 13.8% during the second quarter. Citizens Financial Group Inc. RI now owns 36,112 shares of the basic materials company's stock worth $15,846,000 after buying an additional 4,366 shares during the period. Moors & Cabot Inc. boosted its position in shares of Linde by 34.1% during the second quarter. Moors & Cabot Inc. now owns 2,164 shares of the basic materials company's stock worth $950,000 after buying an additional 550 shares during the period. Finally, Edgestream Partners L.P. boosted its position in shares of Linde by 72.3% during the second quarter. Edgestream Partners L.P. now owns 10,641 shares of the basic materials company's stock worth $4,669,000 after buying an additional 4,465 shares during the period. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Linde Company Profile

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.