Rockland Trust Co. cut its holdings in shares of Linde PLC (NASDAQ:LIN – Free Report) by 4.5% during the second quarter, HoldingsChannel.com reports. The fund owned 22,573 shares of the basic materials company’s stock after selling 1,076 shares during the quarter. Rockland Trust Co.’s holdings in Linde were worth $11,714,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of LIN. Darwin Wealth Management LLC acquired a new stake in Linde during the 2nd quarter worth $25,000. Legacy Wealth Managment LLC ID increased its stake in Linde by 96.6% in the first quarter. Legacy Wealth Managment LLC ID now owns 57 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 28 shares during the period. Triumph Capital Management increased its stake in Linde by 69.2% in the fourth quarter. Triumph Capital Management now owns 66 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 27 shares during the period. Strengthening Families & Communities LLC raised its holdings in shares of Linde by 134.5% in the fourth quarter. Strengthening Families & Communities LLC now owns 68 shares of the basic materials company’s stock valued at $29,000 after buying an additional 39 shares during the last quarter. Finally, High Note Wealth LLC boosted its stake in shares of Linde by 108.6% during the fourth quarter. High Note Wealth LLC now owns 73 shares of the basic materials company’s stock worth $31,000 after buying an additional 38 shares during the period. 82.80% of the stock is owned by institutional investors and hedge funds.
Linde Stock Down 0.0%
LIN stock opened at $489.98 on Friday. The stock has a market capitalization of $225.87 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 3.09 and a beta of 0.72. The company has a fifty day moving average of $513.19 and a 200-day moving average of $497.85. 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 one year low of $387.78 and a one year high of $548.20.
Linde Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be given a dividend of $1.60 per share. The ex-dividend date is Thursday, September 3rd. This represents a $6.40 annualized dividend and a yield of 1.3%. Linde’s payout ratio is presently 41.34%.
Analysts Set New Price Targets
A number of research firms recently issued reports on LIN. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $575.00 price target on shares of Linde in a report on Monday, May 4th. Seaport Research Partners upped their price objective on Linde from $525.00 to $575.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Citigroup decreased their price objective on Linde from $600.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $560.00 target price on shares of Linde in a research note on Tuesday, May 5th. Finally, Sanford C. Bernstein boosted their target price on Linde from $559.00 to $564.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $543.67.
Read Our Latest Stock Analysis on LIN
About Linde
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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