Procyon Advisors LLC Buys 86 Shares of Linde plc (NASDAQ:LIN)

Procyon Advisors LLC boosted its stake in Linde plc (NASDAQ:LIN) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,474 shares of the basic materials company’s stock after purchasing an additional 86 shares during the period. Procyon Advisors LLC’s holdings in Linde were worth $4,995,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LIN. National Bank of Canada FI increased its stake in shares of Linde by 46.9% in the first quarter. National Bank of Canada FI now owns 48,211 shares of the basic materials company’s stock valued at $20,593,000 after buying an additional 15,393 shares during the period. Vident Advisory LLC increased its position in Linde by 40.7% in the 1st quarter. Vident Advisory LLC now owns 8,075 shares of the basic materials company’s stock valued at $3,750,000 after acquiring an additional 2,337 shares during the period. Choate Investment Advisors raised its stake in shares of Linde by 23.6% during the first quarter. Choate Investment Advisors now owns 18,017 shares of the basic materials company’s stock valued at $8,366,000 after acquiring an additional 3,437 shares during the last quarter. Norden Group LLC acquired a new position in shares of Linde during the first quarter worth $5,041,000. Finally, Tidal Investments LLC grew its stake in shares of Linde by 28.7% in the first quarter. Tidal Investments LLC now owns 20,071 shares of the basic materials company’s stock worth $9,319,000 after purchasing an additional 4,479 shares during the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LIN. JPMorgan Chase & Co. raised their target price on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Barclays raised their price objective on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Bank of America upped their target price on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Citigroup raised their price target on shares of Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $477.00 price objective on shares of Linde in a research note on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $484.18.

Insider Transactions at Linde

In related news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Linde Trading Up 0.0 %

NASDAQ:LIN opened at $474.05 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. Linde plc has a one year low of $361.02 and a one year high of $483.36. The company has a market cap of $227.86 billion, a PE ratio of 36.78, a PEG ratio of 2.94 and a beta of 0.94. The firm has a 50-day moving average of $465.85 and a 200-day moving average of $449.80.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.06. The firm had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.57 EPS. As a group, equities research analysts expect that Linde plc will post 15.54 EPS for the current fiscal year.

Linde Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s dividend payout ratio is 43.13%.

About Linde

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.