Palisade Asset Management LLC Has $1.03 Million Stake in Linde plc (NYSE:LIN)

Palisade Asset Management LLC lifted its position in shares of Linde plc (NYSE:LINGet Rating) by 81.8% during the 1st quarter, HoldingsChannel reports. The fund owned 3,223 shares of the basic materials company’s stock after purchasing an additional 1,450 shares during the period. Palisade Asset Management LLC’s holdings in Linde were worth $1,030,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sageworth Trust Co of South Dakota acquired a new stake in shares of Linde during the 4th quarter valued at $25,000. Rational Advisors LLC lifted its holdings in Linde by 134.4% during the 4th quarter. Rational Advisors LLC now owns 75 shares of the basic materials company’s stock worth $26,000 after buying an additional 43 shares during the period. Addison Advisors LLC acquired a new position in Linde during the 4th quarter worth about $27,000. Ritter Daniher Financial Advisory LLC bought a new position in shares of Linde in the 4th quarter worth about $31,000. Finally, Desjardins Global Asset Management Inc. bought a new position in shares of Linde in the 4th quarter worth about $31,000. 72.95% of the stock is currently owned by institutional investors.

Shares of NYSE LIN traded down $5.50 during midday trading on Friday, reaching $282.03. The company’s stock had a trading volume of 18,494 shares, compared to its average volume of 2,404,680. Linde plc has a 12-month low of $267.51 and a 12-month high of $352.18. The firm has a 50 day moving average price of $310.31 and a 200-day moving average price of $313.67. The stock has a market capitalization of $141.78 billion, a P/E ratio of 36.71, a PEG ratio of 2.54 and a beta of 0.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.84 and a quick ratio of 0.72.

Linde (NYSE:LINGet Rating) last announced its earnings results on Thursday, April 28th. The basic materials company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.15. Linde had a return on equity of 12.62% and a net margin of 12.66%. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the previous year, the business earned $2.49 EPS. The company’s revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that Linde plc will post 11.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were paid a $1.17 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $4.68 annualized dividend and a yield of 1.66%. Linde’s payout ratio is 60.31%.

In related news, VP Andreas Opfermann sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $311.55, for a total value of $57,948.30. Following the transaction, the vice president now owns 1,671 shares in the company, valued at $520,600.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

LIN has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on Linde in a research report on Tuesday, May 31st. They issued an “outperform” rating and a $380.00 price objective for the company. Jefferies Financial Group lowered their price objective on Linde from $390.00 to $355.00 in a research report on Thursday, June 16th. Evercore ISI raised Linde from an “in-line” rating to an “outperform” rating and set a $355.00 price objective for the company in a research report on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $352.00 price objective on shares of Linde in a research report on Friday, April 29th. Finally, AlphaValue raised Linde to a “reduce” rating in a research report on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Linde has an average rating of “Moderate Buy” and an average price target of $367.71.

Linde Company Profile (Get Rating)

Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia 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.

See Also

Want to see what other hedge funds are holding LIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Linde plc (NYSE:LINGet Rating).

Institutional Ownership by Quarter for Linde (NYSE:LIN)

Receive News & Ratings for Linde Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Linde and related companies with MarketBeat.com's FREE daily email newsletter.