Cresset Asset Management LLC Has $13.86 Million Position in Linde plc (NASDAQ:LIN)

Cresset Asset Management LLC trimmed its position in Linde plc (NASDAQ:LIN - Free Report) by 46.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,107 shares of the basic materials company's stock after selling 29,271 shares during the period. Cresset Asset Management LLC's holdings in Linde were worth $13,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in shares of Linde in the fourth quarter worth about $25,000. Rakuten Securities Inc. lifted its holdings in shares of Linde by 1,160.0% during the 4th quarter. Rakuten Securities Inc. now owns 63 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Linde in the 4th quarter valued at approximately $34,000. New Age Alpha Advisors LLC increased its stake in Linde by 34.9% during the 4th quarter. New Age Alpha Advisors LLC now owns 85 shares of the basic materials company's stock worth $36,000 after purchasing an additional 22 shares in the last quarter. Finally, Hanson & Doremus Investment Management raised its holdings in Linde by 34.2% during the 4th quarter. Hanson & Doremus Investment Management now owns 98 shares of the basic materials company's stock worth $41,000 after buying an additional 25 shares during the period. Institutional investors own 82.80% of the company's stock.

Insider Activity

In other news, VP Juergen Nowicki sold 6,782 shares of Linde stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $459.62, for a total transaction of $3,117,142.84. Following the completion of the transaction, the vice president now directly owns 14,765 shares in the company, valued at approximately $6,786,289.30. The trade was a 31.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert L. Wood sold 2,900 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $456.26, for a total value of $1,323,154.00. Following the completion of the sale, the director now owns 14,013 shares in the company, valued at approximately $6,393,571.38. This trade represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,159 shares of company stock valued at $5,603,843. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LIN shares. TD Cowen upgraded shares of Linde from a "hold" rating to a "buy" rating and raised their price objective for the stock from $480.00 to $515.00 in a report on Monday, January 13th. Sanford C. Bernstein raised Linde to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Argus raised Linde to a "strong-buy" rating in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $503.11.

Linde Stock Performance

LIN opened at $447.05 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.89. The business's 50-day simple moving average is $452.85 and its 200 day simple moving average is $448.96. The firm has a market capitalization of $210.44 billion, a PE ratio of 32.85, a PEG ratio of 3.08 and a beta of 1.00. Linde plc has a 52-week low of $408.65 and a 52-week high of $487.49.

Linde (NASDAQ:LIN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $3.95 EPS for the quarter, beating the consensus estimate of $3.92 by $0.03. Linde had a return on equity of 18.71% and a net margin of 19.89%. The company had revenue of $8.11 billion during the quarter, compared to the consensus estimate of $8.24 billion. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.75 EPS. As a group, sell-side analysts expect that Linde plc will post 16.54 earnings per share for the current fiscal year.

Linde Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $1.50 per share. The ex-dividend date is Wednesday, June 4th. This represents a $6.00 annualized dividend and a dividend yield of 1.34%. Linde's dividend payout ratio is presently 43.57%.

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.

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