Linde PLC $LIN Position Lifted by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Linde stake by 443.1% in the third quarter, bringing its holdings to 6,588 shares valued at approximately $3.13 million. Institutional investors collectively own 82.8% of Linde’s stock.
• Linde exceeded quarterly expectations, reporting $4.59 in EPS and $9.40 billion in revenue, with revenue rising 9.3% year over year. The company also declared a quarterly dividend of $1.60 per share, equivalent to a 1.2% annual yield.
• Analysts maintain a favorable outlook, with Linde receiving a “Moderate Buy” consensus rating and an average price target of $553.05; the stock recently opened at $519.72.

International Assets Investment Management LLC increased its position in shares of Linde PLC (NASDAQ:LIN - Free Report) by 443.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,588 shares of the basic materials company's stock after acquiring an additional 5,375 shares during the quarter. International Assets Investment Management LLC's holdings in Linde were worth $3,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Linde by 3.7% in the 2nd quarter. State Street Corp now owns 20,344,181 shares of the basic materials company's stock valued at $10,558,016,000 after acquiring an additional 719,052 shares during the period. Amundi increased its holdings in Linde by 13.4% in the 1st quarter. Amundi now owns 3,162,409 shares of the basic materials company's stock valued at $1,567,796,000 after purchasing an additional 373,012 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Linde by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,740,541 shares of the basic materials company's stock valued at $1,358,712,000 after purchasing an additional 64,078 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Linde by 28.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,624,728 shares of the basic materials company's stock valued at $805,475,000 after purchasing an additional 361,664 shares during the last quarter. Finally, Swiss National Bank raised its position in Linde by 6.6% in the first quarter. Swiss National Bank now owns 1,370,361 shares of the basic materials company's stock valued at $679,370,000 after purchasing an additional 85,360 shares during the period. Institutional investors and hedge funds own 82.80% of the company's stock.

Linde Stock Performance

Shares of LIN stock opened at $519.72 on Tuesday. The stock has a fifty day moving average price of $484.17 and a 200 day moving average price of $492.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.75 and a current ratio of 0.88. The stock has a market cap of $239.58 billion, a PE ratio of 29.48, a P/E/G ratio of 2.96 and a beta of 0.71. Linde PLC has a 1 year low of $387.78 and a 1 year high of $548.20.

Linde (NASDAQ:LIN - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The basic materials company reported $4.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.07. The business had revenue of $9.40 billion for the quarter, compared to the consensus estimate of $9.16 billion. Linde had a net margin of 20.43% and a return on equity of 20.09%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.21 earnings per share. Sell-side analysts forecast that Linde PLC will post 17.88 earnings per share for the current fiscal year.

Linde Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on LIN shares. Sanford C. Bernstein reissued an "outperform" rating on shares of Linde in a research report on Monday, October 5th. Bank of America lifted their price objective on shares of Linde from $532.00 to $550.00 and gave the company a "neutral" rating in a report on Friday, July 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Linde in a research note on Monday, October 19th. Citigroup upped their target price on shares of Linde from $560.00 to $580.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Linde from $580.00 to $575.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $553.05.

Linde Company Profile

Linde plc NASDAQ: LIN is a global industrial gases and engineering company. It produces and distributes atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves customers through packaged gases, bulk deliveries, on-site production and pipeline systems.

Linde's products and services support a broad range of industries, including healthcare, food and beverage, manufacturing, chemicals, energy, refining, electronics and metals.

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