Strategy Asset Managers LLC Acquires Shares of 979 Linde plc (NYSE:LIN)

Strategy Asset Managers LLC acquired a new stake in shares of Linde plc (NYSE:LINGet Rating) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 979 shares of the basic materials company’s stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LIN. Dark Forest Capital Management LP acquired a new stake in Linde during the 3rd quarter valued at approximately $109,000. MFA Wealth Advisors LLC acquired a new stake in Linde during the 3rd quarter valued at approximately $31,000. United Capital Financial Advisers LLC lifted its stake in Linde by 1.7% during the 3rd quarter. United Capital Financial Advisers LLC now owns 4,224 shares of the basic materials company’s stock valued at $1,239,000 after acquiring an additional 69 shares during the period. Twinbeech Capital LP acquired a new stake in Linde during the 3rd quarter valued at approximately $326,000. Finally, Thrivent Financial for Lutherans lifted its stake in Linde by 12.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 78,726 shares of the basic materials company’s stock valued at $23,097,000 after acquiring an additional 8,974 shares during the period. Institutional investors and hedge funds own 72.95% of the company’s stock.

Linde stock opened at $298.40 on Thursday. Linde plc has a 52-week low of $267.51 and a 52-week high of $352.18. The firm has a market capitalization of $150.01 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.44 and a beta of 0.85. The company has a fifty day simple moving average of $313.41 and a 200-day simple moving average of $315.20. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.29.

Linde (NYSE:LINGet Rating) last released its earnings results on Thursday, April 28th. The basic materials company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.15. Linde had a net margin of 12.66% and a return on equity of 12.62%. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, research analysts anticipate that Linde plc will post 11.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, June 3rd were issued a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, June 2nd. Linde’s payout ratio is 60.31%.

LIN has been the subject of several recent research reports. Jefferies Financial Group cut their target price on shares of Linde from $390.00 to $355.00 in a report on Thursday, June 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $352.00 target price on shares of Linde in a report on Friday, April 29th. Evercore ISI raised shares of Linde from an “in-line” rating to an “outperform” rating and set a $355.00 target price for the company in a report on Tuesday, May 31st. Credit Suisse Group initiated coverage on shares of Linde in a report on Tuesday, May 31st. They set an “outperform” rating and a $380.00 target price for the company. Finally, Cowen cut their target price on shares of Linde from $345.00 to $330.00 and set a “market perform” rating for the company in a report on Thursday, March 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $367.71.

In other news, VP Andreas Opfermann sold 186 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $311.55, for a total transaction of $57,948.30. Following the completion of the sale, the vice president now owns 1,671 shares of the company’s stock, valued at $520,600.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Linde Profile (Get Rating)

Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia 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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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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