Hartford Investment Management Co. lowered its position in shares of Linde PLC (NYSE:LIN) by 3.0% in the third quarter, HoldingsChannel.com reports. The firm owned 63,633 shares of the basic materials company’s stock after selling 1,948 shares during the quarter. Hartford Investment Management Co.’s holdings in Linde were worth $12,327,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of LIN. Price T Rowe Associates Inc. MD grew its stake in shares of Linde by 252.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,000,888 shares of the basic materials company’s stock worth $2,008,178,000 after purchasing an additional 7,159,363 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Linde by 4,412.8% during the second quarter. Nuveen Asset Management LLC now owns 6,687,706 shares of the basic materials company’s stock worth $1,342,890,000 after purchasing an additional 6,539,513 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Linde by 41.2% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 6,929,763 shares of the basic materials company’s stock worth $1,391,497,000 after purchasing an additional 2,022,326 shares in the last quarter. Thoroughbred Financial Services LLC boosted its stake in Linde by 20,056.1% in the second quarter. Thoroughbred Financial Services LLC now owns 1,451,036 shares of the basic materials company’s stock valued at $145,104,000 after acquiring an additional 1,443,837 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in Linde by 194.9% in the second quarter. Toronto Dominion Bank now owns 1,106,620 shares of the basic materials company’s stock valued at $222,236,000 after acquiring an additional 731,334 shares in the last quarter. Hedge funds and other institutional investors own 73.84% of the company’s stock.
In other news, VP Bernd Hugo Eulitz sold 335 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $186.43, for a total transaction of $62,454.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on LIN shares. ValuEngine downgraded shares of Linde from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein restated a “sell” rating on shares of Linde in a research note on Thursday, July 18th. Bank of America upped their price objective on shares of Linde from $180.00 to $184.00 and gave the company an “underperform” rating in a research note on Tuesday, August 6th. DZ Bank restated a “buy” rating on shares of Linde in a research note on Monday, July 22nd. Finally, KeyCorp upped their price objective on shares of Linde from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. Linde currently has an average rating of “Buy” and an average target price of $203.59.
NYSE LIN traded up $1.77 during trading hours on Monday, hitting $196.77. The company had a trading volume of 799,394 shares, compared to its average volume of 1,353,069. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.85 and a current ratio of 1.02. Linde PLC has a 1-year low of $145.95 and a 1-year high of $206.82. The business has a 50 day moving average of $191.43 and a 200-day moving average of $191.04.
Linde (NYSE:LIN) last announced its earnings results on Monday, August 5th. The basic materials company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.08. Linde had a net margin of 19.45% and a return on equity of 12.10%. The business had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.16 billion. As a group, analysts expect that Linde PLC will post 7.13 earnings per share for the current year.
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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