Pinnacle Associates Ltd. Has $1.99 Million Stake in Linde plc (NASDAQ:LIN)

Pinnacle Associates Ltd. boosted its holdings in shares of Linde plc (NASDAQ:LIN) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,170 shares of the basic materials company’s stock after purchasing an additional 117 shares during the period. Pinnacle Associates Ltd.’s holdings in Linde were worth $1,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kovack Advisors Inc. grew its stake in shares of Linde by 23.6% during the first quarter. Kovack Advisors Inc. now owns 612 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 117 shares during the period. Norden Group LLC bought a new stake in shares of Linde during the first quarter worth $315,000. Diversify Advisory Services LLC bought a new stake in Linde in the 1st quarter valued at $901,000. Mission Wealth Management LP boosted its stake in Linde by 30.9% in the 1st quarter. Mission Wealth Management LP now owns 2,073 shares of the basic materials company’s stock worth $963,000 after purchasing an additional 489 shares during the period. Finally, GLOBALT Investments LLC GA boosted its stake in Linde by 5.1% in the 1st quarter. GLOBALT Investments LLC GA now owns 3,310 shares of the basic materials company’s stock worth $1,537,000 after purchasing an additional 160 shares during the period. 82.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Citigroup raised their target price on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. BMO Capital Markets increased their price target on shares of Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Linde from $510.00 to $515.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays increased their price target on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $490.75.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the sale, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Linde Trading Up 0.3 %

Shares of LIN stock opened at $457.31 on Friday. Linde plc has a fifty-two week low of $385.12 and a fifty-two week high of $487.49. The stock’s fifty day moving average price is $472.87 and its two-hundred day moving average price is $451.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95. The company has a market cap of $218.37 billion, a PE ratio of 34.80, a P/E/G ratio of 3.00 and a beta of 0.94.

Linde (NASDAQ:LIN) last posted its earnings results on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.05. Linde had a net margin of 19.49% and a return on equity of 17.92%. The firm had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the prior year, the business earned $3.63 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that Linde plc will post 15.52 EPS for the current fiscal year.

Linde Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a $1.39 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.22%. Linde’s payout ratio is currently 42.31%.

Linde 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.