Prime Capital Investment Advisors LLC decreased its position in Linde plc (NASDAQ:LIN - Free Report) by 43.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,800 shares of the basic materials company's stock after selling 2,955 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Linde were worth $1,812,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Summit Securities Group LLC bought a new position in Linde during the second quarter worth $28,000. Kozak & Associates Inc. acquired a new stake in shares of Linde during the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP bought a new stake in Linde in the third quarter valued at about $43,000. J.Safra Asset Management Corp acquired a new position in Linde in the second quarter worth about $42,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Linde by 133.3% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 98 shares of the basic materials company's stock worth $44,000 after buying an additional 56 shares during the period. 82.80% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Linde news, VP John Panikar sold 10,025 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the sale, the vice president now owns 17,584 shares of the company's stock, valued at approximately $8,136,996. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research firms have recently weighed in on LIN. JPMorgan Chase & Co. raised their price objective on shares of Linde from $430.00 to $480.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. Mizuho boosted their price objective on shares of Linde from $520.00 to $530.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. BMO Capital Markets raised their price target on Linde from $477.00 to $507.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Linde from $510.00 to $515.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Bank of America raised their price objective on shares of Linde from $495.00 to $516.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Linde currently has an average rating of "Moderate Buy" and an average target price of $490.75.
Get Our Latest Research Report on LIN
Linde Stock Performance
Shares of NASDAQ LIN traded down $2.20 during midday trading on Thursday, hitting $454.04. 950,647 shares of the company's stock were exchanged, compared to its average volume of 1,830,735. The firm has a market capitalization of $216.20 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.92 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. The company's 50 day moving average price is $470.47 and its 200 day moving average price is $452.61. Linde plc has a 12 month low of $396.07 and a 12 month high of $487.49.
Linde (NASDAQ:LIN - Get Free Report) last released its earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.05. The firm had revenue of $8.36 billion during the quarter, compared to analysts' expectations of $8.39 billion. Linde had a return on equity of 18.16% and a net margin of 19.33%. The company's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.63 earnings per share. As a group, analysts predict that Linde plc will post 15.48 earnings per share for the current fiscal year.
Linde Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a $1.39 dividend. This represents a $5.56 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Tuesday, December 3rd. Linde's dividend payout ratio is currently 42.22%.
Linde Company Profile
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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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