Jennison Associates LLC Cuts Stock Position in Linde plc (NASDAQ:LIN)

Jennison Associates LLC decreased its stake in shares of Linde plc (NASDAQ:LIN) by 23.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,072 shares of the basic materials company’s stock after selling 48,526 shares during the quarter. Jennison Associates LLC’s holdings in Linde were worth $67,855,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Trifecta Capital Advisors LLC increased its holdings in shares of Linde by 16.9% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 145 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 21 shares in the last quarter. Prentice Wealth Management LLC increased its holdings in Linde by 1.7% in the 3rd quarter. Prentice Wealth Management LLC now owns 1,367 shares of the basic materials company’s stock worth $652,000 after buying an additional 23 shares in the last quarter. Quotient Wealth Partners LLC raised its position in Linde by 0.9% in the 3rd quarter. Quotient Wealth Partners LLC now owns 2,706 shares of the basic materials company’s stock worth $1,290,000 after buying an additional 23 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its stake in Linde by 1.3% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 1,831 shares of the basic materials company’s stock valued at $873,000 after acquiring an additional 23 shares during the period. Finally, Concord Asset Management LLC VA boosted its holdings in shares of Linde by 0.5% during the 4th quarter. Concord Asset Management LLC VA now owns 4,774 shares of the basic materials company’s stock valued at $1,999,000 after acquiring an additional 23 shares during the last quarter. 82.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LIN. Erste Group Bank restated a “hold” rating on shares of Linde in a report on Tuesday, November 19th. Citigroup cut their price objective on Linde from $490.00 to $480.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their target price on Linde from $510.00 to $515.00 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets boosted their price target on Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, TD Cowen upgraded shares of Linde from a “hold” rating to a “buy” rating and increased their price objective for the stock from $480.00 to $515.00 in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Linde presently has an average rating of “Moderate Buy” and an average price target of $501.82.

Linde Stock Up 1.8 %

Shares of LIN stock opened at $454.21 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81. Linde plc has a one year low of $396.07 and a one year high of $487.49. The company’s fifty day moving average price is $434.54 and its 200-day moving average price is $453.31. The company has a market capitalization of $216.28 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.77 and a beta of 0.94.

Insider Buying and Selling at Linde

In related news, VP Guillermo Bichara sold 4,385 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $460.73, for a total transaction of $2,020,301.05. Following the completion of the transaction, the vice president now owns 22,776 shares in the company, valued at approximately $10,493,586.48. This represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paula Rosput Reynolds purchased 100 shares of Linde stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $441.34 per share, for a total transaction of $44,134.00. Following the completion of the acquisition, the director now owns 233 shares in the company, valued at $102,832.22. The trade was a 75.19 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.60% of the company’s stock.

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.