Summit X LLC increased its position in Linde PLC (NYSE:LIN) by 4.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,420 shares of the basic materials company’s stock after buying an additional 100 shares during the quarter. Summit X LLC’s holdings in Linde were worth $517,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of LIN. Simon Quick Advisors LLC grew its stake in Linde by 538.9% in the 4th quarter. Simon Quick Advisors LLC now owns 115 shares of the basic materials company’s stock valued at $25,000 after buying an additional 97 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new position in Linde in the 3rd quarter valued at about $31,000. Squar Milner Financial Services LLC grew its stake in Linde by 131.3% in the 4th quarter. Squar Milner Financial Services LLC now owns 148 shares of the basic materials company’s stock valued at $31,000 after buying an additional 84 shares during the last quarter. Evoke Wealth LLC acquired a new position in Linde in the 3rd quarter valued at about $39,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Linde in the 2nd quarter valued at about $46,000. 73.30% of the stock is currently owned by institutional investors.
Shares of NYSE:LIN traded down $1.46 on Thursday, reaching $209.62. 1,400,735 shares of the company’s stock were exchanged, compared to its average volume of 1,680,289. The company has a fifty day moving average of $209.63 and a 200-day moving average of $199.17. Linde PLC has a twelve month low of $156.43 and a twelve month high of $214.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.75 and a current ratio of 0.90.
Linde (NYSE:LIN) last announced its earnings results on Tuesday, November 12th. The basic materials company reported $1.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.16. Linde had a net margin of 17.59% and a return on equity of 10.68%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7.14 billion. Equities research analysts predict that Linde PLC will post 7.3 earnings per share for the current year.
LIN has been the topic of a number of research reports. ValuEngine upgraded shares of Linde from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Barclays upped their price target on shares of Linde from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. BMO Capital Markets upped their price target on shares of Linde from $218.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Wells Fargo & Co began coverage on shares of Linde in a research note on Tuesday, October 15th. They issued an “outperform” rating and a $223.00 price target on the stock. Finally, UBS Group increased their target price on shares of Linde from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Linde currently has a consensus rating of “Buy” and an average price target of $215.24.
In related news, EVP Anne K. Roby sold 2,402 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $212.17, for a total transaction of $509,632.34. Following the sale, the executive vice president now owns 36,433 shares in the company, valued at approximately $7,729,989.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anne K. Roby sold 1,583 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $209.71, for a total transaction of $331,970.93. Following the sale, the executive vice president now owns 27,218 shares in the company, valued at approximately $5,707,886.78. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
Further Reading: Derivative
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