OLD National Bancorp IN raised its stake in Linde plc (NASDAQ:LIN - Free Report) by 74.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,392 shares of the basic materials company's stock after acquiring an additional 1,868 shares during the quarter. OLD National Bancorp IN's holdings in Linde were worth $2,045,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Linde in the fourth quarter worth approximately $2,901,853,000. Freemont Capital Pte Ltd bought a new position in Linde in the fourth quarter worth $2,128,233,000. GAMMA Investing LLC lifted its position in Linde by 58,312.0% during the 1st quarter. GAMMA Investing LLC now owns 3,415,935 shares of the basic materials company's stock valued at $1,590,596,000 after acquiring an additional 3,410,087 shares during the period. Capital World Investors increased its position in Linde by 34.4% during the 4th quarter. Capital World Investors now owns 11,547,765 shares of the basic materials company's stock valued at $4,834,631,000 after buying an additional 2,957,604 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of Linde in the 4th quarter worth about $468,360,000. Hedge funds and other institutional investors own 82.80% of the company's stock.
Linde Trading Down 1.2%
Shares of NASDAQ LIN traded down $5.50 during trading on Wednesday, reaching $470.06. The stock had a trading volume of 1,225,584 shares, compared to its average volume of 1,963,319. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.89. Linde plc has a fifty-two week low of $408.65 and a fifty-two week high of $487.49. The company has a market cap of $221.27 billion, a P/E ratio of 34.55, a PEG ratio of 3.08 and a beta of 0.97. The business's 50-day moving average price is $452.70 and its 200-day moving average price is $448.82.
Linde (NASDAQ:LIN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $3.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.92 by $0.03. Linde had a return on equity of 18.71% and a net margin of 19.89%. The firm had revenue of $8.11 billion for the quarter, compared to the consensus estimate of $8.24 billion. During the same quarter last year, the business posted $3.75 EPS. The firm's quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts predict that Linde plc will post 16.54 EPS for the current fiscal year.
Linde Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $1.50 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $6.00 annualized dividend and a dividend yield of 1.28%. Linde's dividend payout ratio is presently 43.57%.
Insider Activity
In other Linde news, VP Sean Durbin sold 7,261 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $456.42, for a total value of $3,314,065.62. Following the transaction, the vice president now owns 8,151 shares in the company, valued at $3,720,279.42. The trade was a 47.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David P. Strauss sold 1,987 shares of Linde stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $457.04, for a total value of $908,138.48. Following the completion of 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 position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Argus upgraded Linde to a "strong-buy" rating in a research note on Tuesday, April 8th. Sanford C. Bernstein raised shares of Linde to a "strong-buy" rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $503.11.
View Our Latest Stock Report on LIN
About Linde
(
Free Report)
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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