Alerus Financial NA Has $613,000 Position in Linde plc (NASDAQ:LIN)

Alerus Financial NA decreased its stake in Linde plc (NASDAQ:LIN) by 71.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,286 shares of the basic materials company’s stock after selling 3,296 shares during the period. Alerus Financial NA’s holdings in Linde were worth $613,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LIN. Massmutual Trust Co. FSB ADV grew its holdings in Linde by 17.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,412 shares of the basic materials company’s stock worth $620,000 after acquiring an additional 210 shares during the period. Trust Co. of Toledo NA OH increased its holdings in Linde by 6.3% in the second quarter. Trust Co. of Toledo NA OH now owns 980 shares of the basic materials company’s stock worth $430,000 after purchasing an additional 58 shares in the last quarter. Mather Group LLC. lifted its stake in Linde by 14.9% in the second quarter. Mather Group LLC. now owns 4,605 shares of the basic materials company’s stock valued at $2,138,000 after buying an additional 597 shares during the period. Fulton Bank N.A. bought a new position in shares of Linde during the 2nd quarter worth approximately $219,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of Linde by 8.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,349 shares of the basic materials company’s stock worth $2,786,000 after buying an additional 468 shares during the period. 82.80% of the stock is currently owned by institutional investors.

Linde Stock Up 0.8 %

LIN stock opened at $460.99 on Monday. The stock has a market cap of $219.50 billion, a P/E ratio of 35.00, a P/E/G ratio of 2.95 and a beta of 0.94. 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’s fifty day simple moving average is $467.20 and its two-hundred day simple moving average is $454.55. Linde plc has a 1-year low of $396.07 and a 1-year high of $487.49.

Linde (NASDAQ:LIN) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.05. Linde had a net margin of 19.33% and a return on equity of 18.16%. The company had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same period in the previous year, the firm earned $3.63 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that Linde plc will post 15.48 EPS for the current year.

Linde Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 annualized dividend and a dividend yield of 1.21%. Linde’s payout ratio is currently 42.22%.

Analyst Ratings Changes

Several brokerages recently issued reports on LIN. 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 note on Friday, November 1st. Bank of America raised their target price on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Barclays upped their price target on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. BMO Capital Markets raised their price objective on Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $490.75.

Insider Buying and Selling

In related news, VP John Panikar sold 10,025 shares of Linde stock in a transaction dated Tuesday, September 10th. The stock was 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 owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. This trade represents a 36.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by insiders.

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.