Wallington Asset Management LLC lifted its position in Linde PLC (NYSE:LIN) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,593 shares of the basic materials company’s stock after buying an additional 210 shares during the period. Linde comprises 3.5% of Wallington Asset Management LLC’s portfolio, making the stock its 9th largest holding. Wallington Asset Management LLC’s holdings in Linde were worth $15,143,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of LIN. Sanders Morris Harris LLC purchased a new stake in Linde during the third quarter valued at approximately $643,000. Diversified Trust Co increased its stake in shares of Linde by 54.9% in the third quarter. Diversified Trust Co now owns 6,045 shares of the basic materials company’s stock worth $1,439,000 after purchasing an additional 2,142 shares in the last quarter. Exane Asset Management purchased a new stake in shares of Linde in the third quarter worth $39,214,000. Somerset Trust Co increased its stake in shares of Linde by 1.1% in the third quarter. Somerset Trust Co now owns 12,211 shares of the basic materials company’s stock worth $2,908,000 after purchasing an additional 131 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Linde by 33.8% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,088 shares of the basic materials company’s stock worth $497,000 after purchasing an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 73.90% of the company’s stock.
LIN stock traded up $3.48 during trading on Friday, reaching $233.08. The company had a trading volume of 1,836,107 shares, compared to its average volume of 2,205,784. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.69 and a current ratio of 0.80. Linde PLC has a twelve month low of $146.71 and a twelve month high of $260.49. The firm has a 50-day simple moving average of $242.78 and a 200-day simple moving average of $218.50. The company has a market cap of $122.45 billion, a price-to-earnings ratio of 54.97, a price-to-earnings-growth ratio of 2.80 and a beta of 0.73.
Linde (NYSE:LIN) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.65 by $0.25. Linde had a net margin of 8.37% and a return on equity of 8.27%. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Sell-side analysts expect that Linde PLC will post 7.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd were paid a dividend of $0.963 per share. This represents a $3.85 annualized dividend and a yield of 1.65%. The ex-dividend date was Wednesday, September 2nd. Linde’s payout ratio is 52.45%.
A number of analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Linde in a research note on Monday, September 21st. They issued an “outperform” rating for the company. SunTrust Banks increased their price objective on shares of Linde from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Morgan Stanley increased their price objective on shares of Linde from $205.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Linde in a report on Monday, August 3rd. Finally, Baader Bank reiterated a “buy” rating on shares of Linde in a report on Thursday, July 30th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Linde presently has a consensus rating of “Buy” and a consensus target price of $238.72.
Linde Company Profile
Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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