Tower Bridge Advisors Cuts Stock Holdings in Linde plc (NASDAQ:LIN)

Tower Bridge Advisors trimmed its position in shares of Linde plc (NASDAQ:LIN) by 17.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,221 shares of the basic materials company’s stock after selling 475 shares during the quarter. Tower Bridge Advisors’ holdings in Linde were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Linde during the 2nd quarter worth $28,000. Strategic Financial Concepts LLC purchased a new position in Linde during the 2nd quarter worth $33,000. Kozak & Associates Inc. purchased a new position in Linde during the 3rd quarter worth $34,000. J.Safra Asset Management Corp bought a new stake in shares of Linde during the 2nd quarter worth $42,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Linde during the 3rd quarter worth $43,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Linde

In other news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the completion of the transaction, the vice president now owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. The trade was a 36.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

Linde Trading Down 1.0 %

Shares of Linde stock opened at $449.10 on Friday. The stock’s 50-day simple moving average is $470.08 and its 200 day simple moving average is $452.72. Linde plc has a 52-week low of $396.07 and a 52-week high of $487.49. The stock has a market capitalization of $213.84 billion, a P/E ratio of 34.10, a P/E/G ratio of 2.88 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96.

Linde (NASDAQ:LIN) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.05. Linde had a return on equity of 18.16% and a net margin of 19.33%. The firm had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same period in the prior year, the business posted $3.63 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that Linde plc will post 15.48 EPS for the current year.

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, December 3rd. Linde’s dividend payout ratio is presently 42.22%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LIN shares. JPMorgan Chase & Co. lifted their target price on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. BMO Capital Markets lifted their target price on Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays lifted their target price on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America lifted their target price on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Mizuho lifted their target price on Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $490.75.

Linde Company 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.