Gradient Investments LLC raised its position in shares of Linde plc (NYSE:LIN – Get Rating) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,696 shares of the basic materials company’s stock after purchasing an additional 40 shares during the quarter. Gradient Investments LLC’s holdings in Linde were worth $488,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LIN. Norges Bank bought a new stake in shares of Linde during the 4th quarter worth $2,589,853,000. Capital International Investors boosted its stake in shares of Linde by 51.0% during the 4th 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. bought a new stake in shares of Linde during the 1st quarter worth $504,023,000. Capital World Investors boosted its stake in shares of Linde by 22.7% during the 4th 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. boosted its stake in shares of Linde by 5.6% during the 1st 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. 77.07% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on LIN. Stifel Nicolaus raised Linde from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. They noted that the move was a valuation call. UBS Group decreased their target price on Linde from $355.00 to $320.00 and set a “buy” rating for the company in a research report on Monday, September 12th. Evercore ISI raised Linde from an “in-line” rating to an “outperform” rating and set a $355.00 target price for the company in a research report on Tuesday, May 31st. Bank of America decreased their target price on Linde from $370.00 to $369.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Linde from €370.00 ($377.55) to €355.00 ($362.24) and set a “buy” rating for the company in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $365.60.
Linde Price Performance
Linde (NYSE:LIN – Get Rating) last posted its earnings results on Thursday, July 28th. The basic materials company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.12. Linde had a return on equity of 13.41% and a net margin of 10.88%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same period last year, the company earned $2.70 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that Linde plc will post 11.89 earnings per share for the current fiscal year.
Linde Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, September 1st. Linde’s dividend payout ratio is currently 67.83%.
Linde Company Profile
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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