Linde plc (NASDAQ:LIN) Shares Purchased by Arrow Financial Corp

Arrow Financial Corp grew its stake in shares of Linde plc (NASDAQ:LIN) by 74.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 480 shares of the basic materials company’s stock after purchasing an additional 205 shares during the quarter. Arrow Financial Corp’s holdings in Linde were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LIN. Price T Rowe Associates Inc. MD raised its stake in Linde by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,796,924 shares of the basic materials company’s stock worth $4,434,406,000 after acquiring an additional 141,322 shares in the last quarter. Provence Wealth Management Group lifted its holdings in shares of Linde by 655.7% in the 4th quarter. Provence Wealth Management Group now owns 597 shares of the basic materials company’s stock valued at $245,000 after purchasing an additional 518 shares during the last quarter. Douglass Winthrop Advisors LLC boosted its position in shares of Linde by 2.0% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 5,278 shares of the basic materials company’s stock valued at $2,168,000 after purchasing an additional 104 shares during the period. Portfolio Design Labs LLC purchased a new position in Linde during the 4th quarter worth approximately $1,897,000. Finally, Cloverfields Capital Group LP acquired a new position in Linde during the fourth quarter worth approximately $718,000. Institutional investors and hedge funds own 82.80% of the company’s stock.

Analysts Set New Price Targets

LIN has been the topic of a number of research reports. Citigroup raised their target price on shares of Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Bank of America lifted their price objective on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets reiterated an “outperform” rating and set a $477.00 target price on shares of Linde in a research note on Friday. Mizuho boosted their price target on Linde from $510.00 to $512.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, UBS Group decreased their price objective on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $484.18.

Linde Trading Up 1.2 %

Shares of LIN stock opened at $478.25 on Friday. The business’s fifty day moving average price is $447.57 and its 200 day moving average price is $445.93. The firm has a market capitalization of $229.88 billion, a PE ratio of 37.10, a P/E/G ratio of 2.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. Linde plc has a 1-year low of $361.02 and a 1-year high of $479.79.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.06. Linde had a net margin of 19.49% and a return on equity of 17.92%. The business had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same period in the prior year, the company posted $3.57 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Linde plc will post 15.54 EPS for the current fiscal year.

Linde Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be given a dividend of $1.39 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.16%. Linde’s payout ratio is 43.13%.

About Linde

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.