Parr Mcknight Wealth Management Group LLC Sells 659 Shares of Linde PLC (NASDAQ:LIN)

Parr Mcknight Wealth Management Group LLC cut its stake in Linde PLC (NASDAQ:LIN - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,382 shares of the basic materials company's stock after selling 659 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Linde were worth $4,834,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LIN. Norges Bank acquired a new position in shares of Linde in the 4th quarter valued at $2,901,853,000. Freemont Capital Pte Ltd acquired a new position in shares of Linde in the 4th quarter valued at $2,128,233,000. GAMMA Investing LLC raised its stake in shares of Linde by 58,312.0% in 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 buying an additional 3,410,087 shares in the last quarter. Capital World Investors raised its stake in shares of Linde by 34.4% in 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 acquired a new position in shares of Linde in the 4th quarter valued at $468,360,000. Institutional investors and hedge funds own 82.80% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LIN. Royal Bank Of Canada began coverage on shares of Linde in a research report on Friday, June 13th. They set an "outperform" rating and a $576.00 target price for the company. Argus upgraded shares of Linde to a "strong-buy" rating in a research report on Tuesday, April 8th. Sanford C. Bernstein upgraded shares of Linde to a "strong-buy" rating in a research report on Thursday, April 3rd. UBS Group increased their target price on shares of Linde from $485.00 to $504.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Citigroup upgraded shares of Linde from a "neutral" rating to a "buy" rating and increased their target price for the stock from $500.00 to $535.00 in a research report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $518.80.

Linde Stock Up 0.3%

Shares of NASDAQ:LIN opened at $471.27 on Thursday. Linde PLC has a 12 month low of $408.65 and a 12 month high of $487.49. The company's 50-day moving average price is $462.72 and its two-hundred day moving average price is $452.02. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 0.45. The firm has a market cap of $221.84 billion, a P/E ratio of 34.22, a P/E/G ratio of 3.31 and a beta of 0.96.

Linde (NASDAQ:LIN - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $3.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.03. The company had revenue of $8.11 billion for the quarter, compared to analyst estimates of $8.24 billion. Linde had a net margin of 20.02% and a return on equity of 18.95%. The company's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $3.75 EPS. As a group, research analysts forecast that Linde PLC will post 16.54 EPS for the current fiscal year.

Linde Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Wednesday, June 4th. Linde's dividend payout ratio (DPR) is presently 43.57%.

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.

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