Harbor Capital Advisors Inc. Reduces Position in Linde plc (NASDAQ:LIN)

Harbor Capital Advisors Inc. cut its position in Linde plc (NASDAQ:LIN) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,720 shares of the basic materials company’s stock after selling 629 shares during the period. Harbor Capital Advisors Inc.’s holdings in Linde were worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. National Bank of Canada FI grew its position in shares of Linde by 46.9% in the 1st 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 last quarter. Vident Advisory LLC grew its position in shares of 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 buying an additional 2,337 shares during the last quarter. Choate Investment Advisors grew its position in shares of Linde by 23.6% in the 1st quarter. Choate Investment Advisors now owns 18,017 shares of the basic materials company’s stock valued at $8,366,000 after buying an additional 3,437 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Linde by 4.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,975 shares of the basic materials company’s stock valued at $26,215,000 after buying an additional 2,312 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of Linde by 28.7% in the 1st quarter. Tidal Investments LLC now owns 20,071 shares of the basic materials company’s stock valued at $9,319,000 after buying an additional 4,479 shares during the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Linde Stock Up 0.2 %

Shares of NASDAQ:LIN opened at $458.32 on Tuesday. The company has a market cap of $218.85 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.89 and a beta of 0.94. The firm’s 50-day simple moving average is $472.67 and its 200-day simple moving average is $451.98. The company has a quick ratio of 0.80, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. Linde plc has a fifty-two week low of $385.12 and a fifty-two week high of $487.49.

Linde (NASDAQ:LIN) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.05. The firm had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.39 billion. Linde had a net margin of 19.33% and a return on equity of 18.16%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.63 earnings per share. As a group, equities research analysts predict that Linde plc will post 15.52 earnings per share for the current year.

Linde Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio is currently 42.22%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LIN shares. Mizuho increased their target price on shares of Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday. Barclays increased their price target on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Citigroup increased their price target on shares of Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. increased their price target 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Linde has a consensus rating of “Moderate Buy” and a consensus price target of $490.75.

Insider Buying and Selling

In related news, VP John Panikar sold 10,025 shares of the business’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 sale, the vice president now owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Linde Profile

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.