Gulf International Bank UK Ltd lowered its holdings in Linde plc (NASDAQ:LIN - Free Report) by 15.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,806 shares of the basic materials company's stock after selling 6,713 shares during the quarter. Gulf International Bank UK Ltd's holdings in Linde were worth $18,028,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in Linde in the 2nd quarter worth $28,000. Strategic Financial Concepts LLC purchased a new position in Linde during the 2nd quarter worth approximately $33,000. Kozak & Associates Inc. purchased a new stake in shares of Linde in the third quarter worth approximately $34,000. J.Safra Asset Management Corp purchased a new position in shares of Linde during the 2nd quarter valued at $42,000. Finally, Bangor Savings Bank raised its stake in shares of Linde by 62.9% during the 2nd quarter. Bangor Savings Bank now owns 101 shares of the basic materials company's stock worth $44,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company's stock.
In other Linde news, VP John Panikar sold 10,025 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the completion of the sale, the vice president now directly owns 17,584 shares in the company, valued at $8,136,996. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by company insiders.
Several equities analysts have commented on the stock. Mizuho increased their target price on shares of Linde from $520.00 to $530.00 and gave the stock an "outperform" rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Linde from $430.00 to $480.00 and gave the stock an "overweight" rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Linde from $510.00 to $515.00 and gave the stock a "buy" rating in a research report on Friday. Citigroup boosted their price objective on shares of Linde from $470.00 to $480.00 and gave the company a "neutral" rating in a report on Friday, July 12th. Finally, Bank of America lifted their price target on Linde from $495.00 to $516.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $490.75.
Check Out Our Latest Research Report on Linde
LIN stock opened at $458.32 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $218.23 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94. The stock's 50 day simple moving average is $472.67 and its 200 day simple moving average is $451.98. Linde plc has a 12-month low of $385.12 and a 12-month high of $487.49.
Linde (NASDAQ:LIN - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.89 by $0.05. Linde had a net margin of 19.33% and a return on equity of 18.16%. The firm had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same period last year, the firm earned $3.63 EPS. The company's revenue was up 1.9% on a year-over-year basis. As a group, research analysts forecast that Linde plc will post 15.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a $1.39 dividend. This represents a $5.56 annualized dividend and a yield of 1.21%. The ex-dividend date is Tuesday, December 3rd. Linde's payout ratio is currently 42.22%.
Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South 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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