4,741 Shares of Linde PLC $LIN Purchased by StoneX Group Inc.

Key Points

• StoneX Group opened a new position in Linde, buying 4,741 shares worth approximately $2.3 million in the third quarter. Institutional investors collectively own 82.8% of the stock.
• Linde beat quarterly earnings and revenue estimates, reporting EPS of $4.59 and revenue of $9.40 billion; revenue rose 9.3% year over year. The company announced a quarterly dividend of $1.60 per share, equivalent to a 1.2% yield.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $553.05. Recent insider share sales were reported as covering tax withholding obligations on vested equity awards.

StoneX Group Inc. 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 & Exchange Commission. The institutional investor purchased 4,741 shares of the basic materials company's stock, valued at approximately $2,303,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS acquired a new position in Linde in the third quarter valued at $22,403,000. Axiom Investment Management LLC acquired a new stake in shares of Linde during the third quarter worth about $118,000. Ethos Capital Management Inc. grew its holdings in shares of Linde by 20.8% during the third quarter. Ethos Capital Management Inc. now owns 4,151 shares of the basic materials company's stock worth $1,970,000 after buying an additional 714 shares during the last quarter. Asset Dedication LLC purchased a new position in shares of Linde during the third quarter worth about $709,000. Finally, United Advisor Group LLC grew its holdings in shares of Linde by 31.4% during the third quarter. United Advisor Group LLC now owns 1,001 shares of the basic materials company's stock worth $475,000 after buying an additional 239 shares during the last quarter. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Linde Stock Performance

NASDAQ LIN opened at $515.25 on Monday. The business's 50-day moving average price is $486.57 and its 200 day moving average price is $494.34. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 0.50. Linde PLC has a twelve month low of $387.78 and a twelve month high of $548.20. The company has a market capitalization of $236.54 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67.

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

Linde Announces Dividend

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

Analyst Upgrades and Downgrades

LIN has been the topic of a number of analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of Linde in a research report on Monday, October 5th. BMO Capital Markets restated an "outperform" rating on shares of Linde in a research report on Thursday, October 8th. Jefferies Financial Group raised their target price on shares of Linde from $535.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Barclays raised their target price on shares of Linde from $577.00 to $591.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Finally, Mizuho set a $583.00 target price on shares of Linde in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $553.05.

Insider Activity at Linde

In related news, CFO Matthew White sold 86,833 shares of the firm's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $521.21, for a total value of $45,258,227.93. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 Linde stock in a transaction that occurred on 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 transaction, the vice president directly owned 22,138 shares in the company, valued at approximately $11,487,629.58. This trade represents a 29.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 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.

The company was formed in 2018 through the merger of Germany's Linde AG and U.S.-based Praxair, bringing together businesses with long histories in industrial gases and engineering.

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