Linde (NYSE:LIN) Price Target Lowered to $350.00 at JPMorgan Chase & Co.

Linde (NYSE:LINGet Rating) had its price target cut by JPMorgan Chase & Co. from $360.00 to $350.00 in a research note released on Friday morning, The Fly reports. The firm currently has a maintains rating on the basic materials company’s stock.

LIN has been the subject of a number of other reports. Evercore ISI raised Linde from an in-line rating to an outperform rating and set a $355.00 price target for the company in a report on Tuesday, May 31st. Bank of America lowered their price target on Linde from $370.00 to $369.00 and set a buy rating for the company in a report on Wednesday, July 13th. Credit Suisse Group began coverage on Linde in a report on Tuesday, May 31st. They issued an outperform rating and a $380.00 price target for the company. AlphaValue raised Linde to a reduce rating in a report on Tuesday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a $352.00 price target on shares of Linde in a report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Linde currently has a consensus rating of Moderate Buy and a consensus price target of $367.60.

Linde Stock Performance

Shares of Linde stock opened at $300.07 on Friday. Linde has a one year low of $265.12 and a one year high of $352.18. The company has a market cap of $150.85 billion, a PE ratio of 43.49, a P/E/G ratio of 2.54 and a beta of 0.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 0.74. The business has a 50-day simple moving average of $298.12 and a 200-day simple moving average of $304.62.

Linde (NYSE:LINGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The basic materials company reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.11. Linde had a return on equity of 13.41% and a net margin of 10.88%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same period in the previous year, the company posted $2.70 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts forecast that Linde will post 11.87 EPS for the current fiscal year.

Linde Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, September 1st. Linde’s dividend payout ratio (DPR) is presently 67.83%.

Institutional Investors Weigh In On Linde

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Linde in the fourth quarter worth $2,589,853,000. Capital International Investors raised its position in Linde by 51.0% in the fourth quarter. Capital International Investors now owns 7,835,794 shares of the basic materials company’s stock worth $2,714,440,000 after acquiring an additional 2,646,192 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Linde in the first quarter worth $504,023,000. Capital World Investors raised its position in Linde by 22.7% in the fourth quarter. Capital World Investors now owns 7,657,766 shares of the basic materials company’s stock worth $2,654,399,000 after acquiring an additional 1,416,567 shares in the last quarter. Finally, BlackRock Inc. raised its position in Linde by 5.6% in the first quarter. BlackRock Inc. now owns 25,679,214 shares of the basic materials company’s stock worth $8,202,713,000 after acquiring an additional 1,368,221 shares in the last quarter. Hedge funds and other institutional investors own 72.95% of the company’s stock.

Linde Company Profile

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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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