43,193 Shares in Linde PLC $LIN Purchased by Keybank National Association OH

Key Points

• Keybank National Association OH acquired 43,193 Linde shares in the third quarter, worth approximately $20.5 million. Institutional investors and hedge funds collectively own 82.8% of the company.
• Linde beat quarterly earnings and revenue expectations, reporting EPS of $4.59 and revenue of $9.40 billion; revenue rose 9.3% year over year.
• Analysts rate Linde a “Moderate Buy,” with a consensus price target of $553.05. The company also declared a quarterly dividend of $1.60 per share.

Keybank National Association OH purchased a new position in shares of Linde PLC (NASDAQ:LIN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 43,193 shares of the basic materials company's stock, valued at approximately $20,502,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Principia Wealth Advisory LLC boosted its position in Linde by 74.2% during the second quarter. Principia Wealth Advisory LLC now owns 54 shares of the basic materials company's stock worth $28,000 after purchasing an additional 23 shares in the last quarter. JCIC Asset Management Inc. acquired a new stake in Linde in the third quarter valued at $26,000. Legacy Wealth Managment LLC ID increased its position in shares of Linde by 96.6% in the first quarter. Legacy Wealth Managment LLC ID now owns 57 shares of the basic materials company's stock valued at $28,000 after buying an additional 28 shares in the last quarter. Marquette Asset Management LLC purchased a new position in shares of Linde in the third quarter valued at $29,000. Finally, Polaris Financial Partners purchased a new position in shares of Linde in the third quarter valued at $31,000. Institutional investors and hedge funds own 82.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Deutsche Bank cut their price target on Linde from $580.00 to $575.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. The Goldman Sachs Group set a $580.00 price objective on shares of Linde and gave the company a "buy" rating in a research note on Monday, August 10th. Evercore raised their target price on shares of Linde from $515.00 to $525.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. UBS Group lifted their target price on shares of Linde from $574.00 to $585.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Finally, Argus reduced their price target on shares of Linde from $563.00 to $538.00 and set a "buy" rating on the stock in a report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Linde presently has an average rating of "Moderate Buy" and a consensus target price of $553.05.

Insider Transactions at Linde

In related news, CFO Matthew White sold 86,833 shares of Linde stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $521.21, for a total transaction of $45,258,227.93. Following the completion of the sale, the chief financial officer owned 50,733 shares in the company, valued at approximately $26,442,546.93. This trade represents a 63.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Guillermo Bichara sold 9,350 shares of the business's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $518.91, for a total transaction of $4,851,808.50. Following the completion of the transaction, the vice president directly owned 22,138 shares of the company's stock, valued at $11,487,629.58. The trade was a 29.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.30% of the company's stock.

Linde Price Performance

Shares of NASDAQ:LIN opened at $526.55 on Thursday. The business's fifty day moving average price is $488.62 and its two-hundred day moving average price is $495.50. The stock has a market cap of $241.73 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 3.04 and a beta of 0.67. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.72 and a current ratio of 0.86. Linde PLC has a one year low of $387.78 and a one year high of $548.20.

Linde (NASDAQ:LIN - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.07. Linde had a return on equity of 20.32% and a net margin of 19.34%. The company had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $9.16 billion. During the same quarter last year, the business posted $4.21 earnings per share. Linde's revenue was up 9.3% compared to the same quarter last year. On average, analysts forecast that Linde PLC will post 17.89 EPS for the current fiscal year.

Linde Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. Linde's dividend payout ratio (DPR) is presently 42.52%.

Linde Company Profile

Linde plc is a global industrial gases and engineering company. It produces and supplies atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium and specialty gases. The company also designs and builds equipment and facilities used to produce and process gases. Linde serves customers across industries including healthcare, manufacturing, chemicals, food and beverage, electronics and energy. Its operations span the Americas, Europe, the Middle East and Africa, and Asia-Pacific.

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