Hohimer Wealth Management LLC grew its holdings in shares of Linde PLC (NASDAQ:LIN – Free Report) by 14.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 9,553 shares of the basic materials company’s stock after acquiring an additional 1,224 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Linde were worth $4,534,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in LIN. State Street Corp grew its position in Linde by 3.7% in the 2nd quarter. State Street Corp now owns 20,344,181 shares of the basic materials company’s stock valued at $10,558,016,000 after buying an additional 719,052 shares in the last quarter. Amundi increased its stake in Linde by 13.4% during the 1st quarter. Amundi now owns 3,162,409 shares of the basic materials company’s stock valued at $1,567,796,000 after buying an additional 373,012 shares during the period. Dimensional Fund Advisors LP increased its stake in Linde by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,740,541 shares of the basic materials company’s stock valued at $1,358,712,000 after buying an additional 64,078 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Linde by 28.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,624,728 shares of the basic materials company’s stock valued at $805,475,000 after buying an additional 361,664 shares during the period. Finally, Swiss National Bank raised its position in shares of Linde by 6.6% during the 1st quarter. Swiss National Bank now owns 1,370,361 shares of the basic materials company’s stock worth $679,370,000 after buying an additional 85,360 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.
Linde Stock Performance
Linde stock opened at $515.25 on Monday. Linde PLC has a fifty-two week low of $387.78 and a fifty-two week high of $548.20. The firm’s 50 day simple moving average is $486.57 and its 200-day simple moving average is $494.34. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.86 and a quick ratio of 0.72. The company has a market cap of $236.54 billion, a P/E ratio of 34.24, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67.
Linde (NASDAQ:LIN – Get Free Report) last released its earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.52 by $0.07. Linde had a return on equity of 20.32% and a net margin of 19.34%. The company had revenue of $9.40 billion during the quarter, compared to analyst estimates of $9.16 billion. During the same quarter in the prior year, the company earned $4.21 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that Linde PLC will post 17.89 EPS for the current year.
Linde Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be paid a $1.60 dividend. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. Linde’s payout ratio is presently 42.52%.
Analyst Ratings Changes
LIN has been the subject of several recent analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Linde in a report on Thursday, October 8th. Berenberg Bank reissued a “buy” rating on shares of Linde in a report on Tuesday, August 4th. DZ Bank restated a “neutral” rating on shares of Linde in a research report on Thursday, August 6th. Argus decreased their price target on Linde from $563.00 to $538.00 and set a “buy” rating for the company in a research note on Monday, September 28th. Finally, Bank of America increased their price target on Linde from $532.00 to $550.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $553.05.
Get Our Latest Stock Report on LIN
Insider Buying and Selling
In other news, CFO Matthew White sold 86,833 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $521.21, for a total transaction of $45,258,227.93. Following the transaction, the chief financial officer owned 50,733 shares in the company, valued at $26,442,546.93. This represents a 63.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Guillermo Bichara sold 9,350 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $518.91, for a total value of $4,851,808.50. Following the transaction, the vice president owned 22,138 shares in the company, valued at approximately $11,487,629.58. This trade represents a 29.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.30% of the company’s stock.
About Linde
Linde plc is a global industrial gases and engineering company. It produces and supplies atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium and specialty gases. The company also designs and builds equipment and facilities used to produce and process gases.
Linde serves customers across industries including healthcare, manufacturing, chemicals, food and beverage, electronics and energy. Its operations span the Americas, Europe, the Middle East and Africa, and Asia-Pacific.
The company was formed in 2018 through the merger of Germany’s Linde AG and U.S.-based Praxair, bringing together businesses with long histories in industrial gases and engineering.
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