Traynor Capital Management Inc. Boosts Stake in Linde plc (NASDAQ:LIN)

Traynor Capital Management Inc. lifted its stake in Linde plc (NASDAQ:LIN) by 716.5% during the third quarter, HoldingsChannel.com reports. The firm owned 5,675 shares of the basic materials company’s stock after purchasing an additional 4,980 shares during the quarter. Traynor Capital Management Inc.’s holdings in Linde were worth $2,706,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LIN. Hexagon Capital Partners LLC boosted its position in shares of Linde by 50.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 47 shares in the last quarter. Oak Thistle LLC bought a new position in Linde in the 1st quarter valued at approximately $234,000. Plimoth Trust Co. LLC lifted its position in Linde by 1.0% in the 1st quarter. Plimoth Trust Co. LLC now owns 8,052 shares of the basic materials company’s stock valued at $3,739,000 after acquiring an additional 78 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Linde by 1.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,468,134 shares of the basic materials company’s stock valued at $681,684,000 after acquiring an additional 27,236 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Linde by 3.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 4,241 shares of the basic materials company’s stock valued at $1,969,000 after acquiring an additional 126 shares in the last quarter. 82.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Linde news, VP John Panikar sold 10,025 shares of the stock in a transaction on 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 in the company, valued at approximately $8,136,996. This represents a 0.00 % 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 currently owned by company insiders.

Linde Trading Up 0.5 %

NASDAQ:LIN opened at $476.00 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. The firm has a market capitalization of $227.29 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94. Linde plc has a one year low of $373.69 and a one year high of $487.49. The business has a fifty day moving average price of $472.59 and a 200-day moving average price of $451.36.

Linde (NASDAQ:LIN) last posted its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, topping the consensus estimate 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%. Linde’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.57 EPS. Sell-side analysts forecast that Linde plc will post 15.52 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LIN shares. Barclays upped their price objective on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group lowered their price objective on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Bank of America upped their price objective on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $477.00 price target on shares of Linde in a report on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $484.18.

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.