Linde PLC $LIN is Wallington Asset Management LLC's 3rd Largest Position

Wallington Asset Management LLC increased its position in Linde PLC (NASDAQ:LIN - Free Report) by 1.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 72,985 shares of the basic materials company's stock after purchasing an additional 995 shares during the period. Linde accounts for about 4.8% of Wallington Asset Management LLC's holdings, making the stock its 3rd biggest holding. Wallington Asset Management LLC's holdings in Linde were worth $34,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. North Capital Inc. purchased a new stake in Linde during the 1st quarter valued at approximately $25,000. Abound Financial LLC purchased a new stake in Linde during the 1st quarter valued at approximately $41,000. eCIO Inc. purchased a new stake in Linde during the 1st quarter valued at approximately $45,000. Clal Insurance Enterprises Holdings Ltd raised its stake in Linde by 445.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 109 shares of the basic materials company's stock valued at $51,000 after acquiring an additional 89 shares during the last quarter. Finally, Nova Wealth Management Inc. purchased a new stake in Linde during the 1st quarter valued at approximately $52,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LIN has been the subject of several analyst reports. Royal Bank Of Canada initiated coverage on Linde in a research note on Friday, June 13th. They set an "outperform" rating and a $576.00 price objective for the company. Citigroup raised Linde from a "neutral" rating to a "buy" rating and upped their price objective for the company from $500.00 to $535.00 in a research note on Monday, June 30th. JPMorgan Chase & Co. upped their price objective on Linde from $470.00 to $475.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Linde in a research note on Saturday, September 27th. Finally, UBS Group upped their price objective on Linde from $485.00 to $504.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Linde presently has an average rating of "Buy" and a consensus price target of $519.63.

Linde Stock Performance

Shares of LIN stock opened at $466.73 on Friday. The company has a market cap of $218.85 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 3.10 and a beta of 0.93. The stock has a 50 day simple moving average of $474.57 and a 200-day simple moving average of $464.31. Linde PLC has a 12-month low of $408.65 and a 12-month high of $487.49. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 0.49.

Linde (NASDAQ:LIN - Get Free Report) last issued its earnings results on Friday, August 1st. The basic materials company reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.03 by $0.06. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.35 billion. Linde had a return on equity of 19.09% and a net margin of 20.20%.The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.85 EPS. Linde has set its FY 2025 guidance at 16.300-16.500 EPS. Q3 2025 guidance at 4.100-4.20 EPS. On average, equities analysts forecast that Linde PLC will post 16.54 EPS for the current year.

Linde Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $1.50 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.3%. Linde's dividend payout ratio is currently 42.67%.

Insider Buying and Selling at Linde

In related news, Director Stephen F. Angel sold 50,309 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $473.38, for a total value of $23,815,274.42. Following the sale, the director owned 480,543 shares in the company, valued at $227,479,445.34. This represents a 9.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.