IRON Financial LLC Buys New Position in Linde PLC (NASDAQ:LIN)

IRON Financial LLC purchased a new position in shares of Linde PLC (NASDAQ:LIN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,894 shares of the basic materials company's stock, valued at approximately $882,000.

A number of other hedge funds have also bought and sold shares of the business. Amalgamated Bank lifted its holdings in Linde by 0.9% during the first quarter. Amalgamated Bank now owns 95,015 shares of the basic materials company's stock worth $44,243,000 after acquiring an additional 874 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in Linde by 6.2% during the first quarter. Avidian Wealth Enterprises LLC now owns 3,432 shares of the basic materials company's stock worth $1,598,000 after acquiring an additional 200 shares during the period. Essex Financial Services Inc. lifted its holdings in Linde by 2.8% during the first quarter. Essex Financial Services Inc. now owns 3,302 shares of the basic materials company's stock worth $1,538,000 after acquiring an additional 89 shares during the period. Stonebridge Financial Group LLC lifted its holdings in Linde by 2.1% during the first quarter. Stonebridge Financial Group LLC now owns 11,885 shares of the basic materials company's stock worth $5,534,000 after acquiring an additional 241 shares during the period. Finally, Emerald Advisors LLC lifted its holdings in Linde by 15.4% during the first quarter. Emerald Advisors LLC now owns 645 shares of the basic materials company's stock worth $300,000 after acquiring an additional 86 shares during the period. 82.80% of the stock is currently owned by institutional investors.

Insider Activity at Linde

In related news, VP Sean Durbin sold 7,261 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $456.42, for a total transaction of $3,314,065.62. Following the completion of the transaction, the vice president now directly owns 8,151 shares in the company, valued at $3,720,279.42. The trade was a 47.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David P. Strauss sold 1,987 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $457.04, for a total value of $908,138.48. Following the transaction, the vice president now owns 22,639 shares of the company's stock, valued at approximately $10,346,928.56. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Linde Stock Performance

NASDAQ:LIN opened at $463.79 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.80 and a current ratio of 0.94. Linde PLC has a 52-week low of $408.65 and a 52-week high of $487.49. The firm has a market cap of $218.32 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 3.27 and a beta of 0.97. The business's fifty day moving average is $458.94 and its 200 day moving average is $449.77.

Linde (NASDAQ:LIN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $3.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.92 by $0.03. Linde had a return on equity of 18.95% and a net margin of 20.02%. The company had revenue of $8.11 billion for the quarter, compared to analyst estimates of $8.24 billion. During the same period in the previous year, the company posted $3.75 EPS. The firm's revenue for the quarter was up .1% compared to the same quarter last year. Research analysts predict that Linde PLC will post 16.54 EPS for the current year.

Linde Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $1.50 per share. The ex-dividend date was Wednesday, June 4th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.29%. Linde's payout ratio is 43.57%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LIN. Argus upgraded Linde to a "strong-buy" rating in a report on Tuesday, April 8th. Royal Bank Of Canada initiated coverage on Linde in a research note on Friday, June 13th. They issued an "outperform" rating and a $576.00 target price on the stock. Finally, Sanford C. Bernstein upgraded Linde to a "strong-buy" rating in a research note on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $510.40.

Linde Company 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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