Eastern Bank lifted its holdings in Linde PLC (NASDAQ:LIN – Free Report) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 98,932 shares of the basic materials company’s stock after acquiring an additional 1,483 shares during the quarter. Eastern Bank’s holdings in Linde were worth $51,340,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of LIN. Norges Bank purchased a new stake in Linde in the 4th quarter worth about $3,246,750,000. Auto Owners Insurance Co grew its stake in Linde by 42,539.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,321,809 shares of the basic materials company’s stock valued at $56,361,000 after acquiring an additional 1,318,709 shares in the last quarter. Capital International Investors grew its stake in Linde by 20.1% during the 4th quarter. Capital International Investors now owns 7,610,387 shares of the basic materials company’s stock valued at $3,245,255,000 after acquiring an additional 1,275,477 shares in the last quarter. Deutsche Bank AG grew its stake in Linde by 40.2% during the 4th quarter. Deutsche Bank AG now owns 3,941,719 shares of the basic materials company’s stock valued at $1,680,710,000 after acquiring an additional 1,130,001 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Linde by 26.0% in the 4th quarter. Invesco Ltd. now owns 5,402,317 shares of the basic materials company’s stock valued at $2,303,494,000 after purchasing an additional 1,114,751 shares during the period. Hedge funds and other institutional investors own 82.80% of the company’s stock.
Linde Price Performance
Shares of LIN opened at $480.46 on Tuesday. The firm has a market cap of $222.14 billion, a PE ratio of 31.04, a PEG ratio of 3.03 and a beta of 0.72. The firm’s 50 day moving average price is $514.53 and its 200 day moving average price is $496.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.75 and a current ratio of 0.88. Linde PLC has a twelve month low of $387.78 and a twelve month high of $548.20.
Linde Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be given a $1.60 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Linde’s payout ratio is currently 41.34%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on LIN shares. BMO Capital Markets reissued an “outperform” rating and issued a $560.00 price target on shares of Linde in a research report on Tuesday, May 5th. Sanford C. Bernstein boosted their price objective on shares of Linde from $559.00 to $564.00 and gave the company an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Linde from $525.00 to $530.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $575.00 target price on shares of Linde in a research report on Monday, May 4th. Finally, Evercore reissued an “outperform” rating and set a $525.00 target price on shares of Linde in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $543.67.
Check Out Our Latest Research Report on Linde
Linde Profile
Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.
Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher‑value specialty and electronic gases.
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