Legacy Capital Wealth Partners LLC purchased a new position in Linde plc (NASDAQ:LIN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,645 shares of the basic materials company's stock, valued at approximately $722,000.
Several other institutional investors also recently added to or reduced their stakes in LIN. Retirement Group LLC purchased a new position in Linde in the 1st quarter worth about $25,000. Summit Securities Group LLC purchased a new position in Linde during the 2nd quarter valued at about $28,000. First Pacific Financial purchased a new position in Linde during the 1st quarter valued at about $30,000. Scarborough Advisors LLC purchased a new position in Linde during the 4th quarter valued at about $30,000. Finally, Johnson Financial Group Inc. increased its position in Linde by 44.4% during the 4th quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 82.80% of the company's stock.
Analysts Set New Price Targets
A number of research firms have commented on LIN. HSBC cut their target price on shares of Linde from $458.00 to $452.00 and set a "buy" rating on the stock in a research report on Monday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Linde from $430.00 to $480.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. UBS Group reduced their price target on Linde from $490.00 to $475.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 9th. Citigroup raised their price objective on Linde from $470.00 to $480.00 and gave the stock a "neutral" rating in a research report on Friday, July 12th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $477.00 target price on shares of Linde in a research report on Friday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Linde has a consensus rating of "Moderate Buy" and an average target price of $484.18.
Read Our Latest Analysis on Linde
Linde Stock Performance
Linde stock traded down $4.20 during trading hours on Tuesday, hitting $474.05. 2,090,670 shares of the stock traded hands, compared to its average volume of 1,900,557. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. The firm's 50 day moving average price is $448.98 and its 200-day moving average price is $447.10. The stock has a market capitalization of $227.86 billion, a price-to-earnings ratio of 37.00, a P/E/G ratio of 3.00 and a beta of 0.94. Linde plc has a 1 year low of $361.02 and a 1 year high of $479.79.
Linde (NASDAQ:LIN - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.06. The business had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.57 EPS. As a group, equities analysts expect that Linde plc will post 15.54 EPS for the current fiscal year.
Linde Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a $1.39 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.56 dividend on an annualized basis and a yield of 1.17%. Linde's payout ratio is 43.13%.
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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