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State of New Jersey Common Pension Fund D Reduces Stock Position in Linde plc (NASDAQ:LIN)

Linde logo with Basic Materials background

State of New Jersey Common Pension Fund D lowered its stake in shares of Linde plc (NASDAQ:LIN - Free Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 175,477 shares of the basic materials company's stock after selling 2,021 shares during the period. State of New Jersey Common Pension Fund D's holdings in Linde were worth $73,467,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LIN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Linde by 372.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,288,088 shares of the basic materials company's stock valued at $1,567,958,000 after purchasing an additional 2,592,682 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Linde by 47,830.2% in the 3rd quarter. International Assets Investment Management LLC now owns 936,076 shares of the basic materials company's stock valued at $446,377,000 after purchasing an additional 934,123 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Linde by 2,293.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 782,461 shares of the basic materials company's stock valued at $327,593,000 after purchasing an additional 749,763 shares in the last quarter. AMF Tjanstepension AB increased its stake in shares of Linde by 108.7% in the 3rd quarter. AMF Tjanstepension AB now owns 784,477 shares of the basic materials company's stock valued at $374,086,000 after purchasing an additional 408,659 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Linde by 131.6% in the 3rd quarter. KBC Group NV now owns 621,444 shares of the basic materials company's stock valued at $296,342,000 after purchasing an additional 353,136 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company's stock.

Insider Activity at Linde

In other Linde news, Director Robert L. Wood sold 2,900 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 14,013 shares of the company's stock, valued at $6,393,571.38. The trade was a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Guillermo Bichara sold 4,385 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $460.73, for a total value of $2,020,301.05. Following the completion of the sale, the vice president now directly owns 22,776 shares in the company, valued at approximately $10,493,586.48. The trade was a 16.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,503 shares of company stock worth $4,306,843. Insiders own 0.60% of the company's stock.

Linde Price Performance

Shares of Linde stock traded down $0.17 on Thursday, hitting $461.90. 1,334,477 shares of the company were exchanged, compared to its average volume of 2,259,478. The stock has a market capitalization of $219.94 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 3.11 and a beta of 0.94. The company has a 50-day moving average price of $435.96 and a 200 day moving average price of $454.18. Linde plc has a 1-year low of $410.69 and a 1-year high of $487.49. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.39.

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

Analyst Ratings Changes

LIN has been the topic of several research analyst reports. Mizuho lifted their price objective on Linde from $520.00 to $530.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. TD Cowen upgraded Linde from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $480.00 to $515.00 in a report on Monday, January 13th. Citigroup lowered their price objective on Linde from $490.00 to $480.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. BMO Capital Markets lifted 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. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $501.82.

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Linde Profile

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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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Institutional Ownership by Quarter for Linde (NASDAQ:LIN)

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