Connable Office Inc. Grows Position in Linde plc (NASDAQ:LIN)

Connable Office Inc. raised its holdings in Linde plc (NASDAQ:LIN) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,476 shares of the basic materials company’s stock after purchasing an additional 29 shares during the period. Connable Office Inc.’s holdings in Linde were worth $4,996,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Linde in the second quarter worth about $28,000. Strategic Financial Concepts LLC bought a new position in Linde in the 2nd quarter valued at $33,000. Kozak & Associates Inc. purchased a new position in shares of Linde during the 3rd quarter valued at $34,000. J.Safra Asset Management Corp bought a new position in shares of Linde in the second quarter worth $42,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Linde in the third quarter worth $43,000. Institutional investors own 82.80% of the company’s stock.

Insider Activity at Linde

In other news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $8,136,996. The trade was a 36.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LIN has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Mizuho upped their price objective on shares of Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays lifted their target price on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Bank of America boosted their price target on shares of Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, BMO Capital Markets raised their price objective on shares of Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $490.75.

Linde Stock Down 0.6 %

LIN opened at $453.49 on Friday. 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 business’s 50-day moving average price is $470.47 and its 200-day moving average price is $452.61. The company has a market cap of $215.93 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.92 and a beta of 0.94. Linde plc has a 12 month low of $396.07 and a 12 month high of $487.49.

Linde (NASDAQ:LIN) last issued 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. The firm had revenue of $8.36 billion during 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 company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.63 earnings per share. On average, equities analysts expect that Linde plc will post 15.48 EPS for the current year.

Linde Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, December 3rd. Linde’s payout ratio is 42.22%.

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.