Reynders McVeigh Capital Management LLC Sells 44 Shares of Linde plc (NASDAQ:LIN)

Reynders McVeigh Capital Management LLC reduced its stake in shares of Linde plc (NASDAQ:LIN) by 2.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,504 shares of the basic materials company’s stock after selling 44 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Linde were worth $717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of Linde during the 2nd quarter valued at approximately $28,000. Kozak & Associates Inc. bought a new position in Linde in the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP bought a new position in Linde in the 3rd quarter worth approximately $43,000. J.Safra Asset Management Corp bought a new position in Linde in the 2nd quarter worth approximately $42,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Linde by 133.3% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 98 shares of the basic materials company’s stock worth $44,000 after buying an additional 56 shares during the period. 82.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Erste Group Bank reaffirmed a “hold” rating on shares of Linde in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets raised their price objective on shares of Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Mizuho raised their price target on shares of Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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 Linde stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the transaction, the vice president now owns 17,584 shares in the company, valued at $8,136,996. This trade represents a 36.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Linde Stock Performance

Linde stock opened at $459.45 on Thursday. The firm’s fifty day moving average price is $466.07 and its 200-day moving average price is $454.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96. The stock has a market cap of $218.77 billion, a P/E ratio of 34.89, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Linde plc has a fifty-two week low of $396.07 and a fifty-two week high of $487.49.

Linde (NASDAQ:LIN) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.05. The firm had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Linde had a net margin of 19.33% and a return on equity of 18.16%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $3.63 EPS. On average, equities research analysts expect that Linde plc will post 15.48 earnings per share for the current fiscal year.

Linde Announces Dividend

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

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.