Ingalls & Snyder LLC Decreases Stake in Linde plc (NASDAQ:LIN)

Ingalls & Snyder LLC reduced its position in Linde plc (NASDAQ:LIN) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,538 shares of the basic materials company’s stock after selling 157 shares during the period. Ingalls & Snyder LLC’s holdings in Linde were worth $3,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LIN. Synergy Asset Management LLC acquired a new stake in shares of Linde in the 4th quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new stake in Linde during the fourth quarter worth about $28,000. Global Wealth Strategies & Associates raised its stake in Linde by 144.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 71 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 42 shares during the period. Kozak & Associates Inc. bought a new position in Linde in the 3rd quarter worth about $34,000. Finally, Retirement Wealth Solutions LLC bought a new position in Linde in the 4th quarter worth about $34,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Linde Stock Down 0.5 %

Linde stock opened at $458.56 on Thursday. The stock has a market capitalization of $218.35 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. Linde plc has a twelve month low of $410.69 and a twelve month high of $487.49. The company has a quick ratio of 0.81, a current ratio of 0.89 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $434.44 and a 200-day moving average of $453.86.

Linde (NASDAQ:LIN) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.93 by $0.04. Linde had a net margin of 19.89% and a return on equity of 18.71%. On average, equities research analysts anticipate that Linde plc will post 16.55 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert L. Wood sold 2,900 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $456.26, for a total value of $1,323,154.00. Following the sale, the director now owns 14,013 shares of the company’s stock, valued at $6,393,571.38. The trade was a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paula Rosput Reynolds acquired 100 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $441.34 per share, for a total transaction of $44,134.00. Following the transaction, the director now owns 233 shares of the company’s stock, valued at $102,832.22. This represents a 75.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 9,503 shares of company stock worth $4,306,843 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on LIN. TD Cowen upgraded shares of Linde from a “hold” rating to a “buy” rating and upped their target price for the stock from $480.00 to $515.00 in a research report on Monday, January 13th. BMO Capital Markets upped their target price on shares of Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Citigroup decreased their target price on shares of Linde from $490.00 to $480.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Erste Group Bank reiterated a “hold” rating on shares of Linde in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $501.82.

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.