Summit Trail Advisors LLC Buys 2,301 Shares of Linde PLC (NASDAQ:LIN)

Summit Trail Advisors LLC boosted its holdings in shares of Linde PLC (NASDAQ:LIN - Free Report) by 25.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,324 shares of the basic materials company's stock after purchasing an additional 2,301 shares during the quarter. Summit Trail Advisors LLC's holdings in Linde were worth $5,273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Linde in the fourth quarter valued at about $2,752,000. Revolve Wealth Partners LLC raised its holdings in Linde by 14.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 777 shares of the basic materials company's stock valued at $325,000 after acquiring an additional 96 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Linde by 2.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 68,460 shares of the basic materials company's stock worth $28,662,000 after acquiring an additional 1,876 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Linde by 5.1% during the 4th quarter. Fisher Asset Management LLC now owns 1,652 shares of the basic materials company's stock worth $692,000 after purchasing an additional 80 shares in the last quarter. Finally, Maia Wealth LLC increased its position in shares of Linde by 13.0% during the fourth quarter. Maia Wealth LLC now owns 496 shares of the basic materials company's stock valued at $218,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 82.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LIN shares. Royal Bank Of Canada started coverage on Linde in a research report on Friday, June 13th. They issued an "outperform" rating and a $576.00 target price for the company. Citigroup upgraded shares of Linde from a "neutral" rating to a "buy" rating and increased their price objective for the company from $500.00 to $535.00 in a research note on Monday. Sanford C. Bernstein upgraded shares of Linde to a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Argus raised shares of Linde to a "strong-buy" rating in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $515.90.

Linde Price Performance

Shares of Linde stock traded up $7.57 during mid-day trading on Tuesday, reaching $476.75. 1,818,801 shares of the stock were exchanged, compared to its average volume of 1,971,620. 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 $224.42 billion, a price-to-earnings ratio of 34.62, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97. The firm has a 50-day simple moving average of $459.44 and a 200 day simple moving average of $450.01. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 0.45.

Linde (NASDAQ:LIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $3.95 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.03. The company had revenue of $8.11 billion during 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 was up .1% on a year-over-year basis. During the same quarter last year, the business posted $3.75 earnings per share. On average, sell-side 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 was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Wednesday, June 4th. Linde's dividend payout ratio is currently 43.57%.

Insider Buying and Selling at Linde

In other Linde news, 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 value of $3,314,065.62. Following the completion of the sale, the vice president owned 8,151 shares in the company, valued at approximately $3,720,279.42. This trade represents a 47.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David P. Strauss sold 1,987 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $457.04, for a total transaction of $908,138.48. Following the completion of the transaction, the vice president owned 22,639 shares of the company's stock, valued at $10,346,928.56. This trade represents a 8.07% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Linde 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.