Linde plc (NYSE:LIN) Given Average Rating of "Moderate Buy" by Brokerages

Sep 06, 2023

Shares of Linde plc (NYSE:LIN - Get Rating) have been assigned an average recommendation of "Buy" from the twenty analysts that are presently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $380.76.

Several analysts have weighed in on LIN shares. BMO Capital Markets raised their price target on Linde from $370.00 to $378.00 and gave the company an "outperform" rating in a report on Tuesday, February 14th. Citigroup lifted their price objective on Linde from $402.00 to $418.00 and gave the stock a "buy" rating in a research report on Wednesday, February 8th. Barclays lifted their price objective on Linde from $380.00 to $400.00 in a research report on Friday, April 28th. Mizuho lifted their price target on Linde from $370.00 to $382.00 in a research report on Friday, April 28th. Finally, Berenberg Bank lifted their price target on Linde from $375.00 to $415.00 in a research report on Friday, May 12th.

In other news, VP Guillermo Bichara sold 14,648 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $371.55, for a total value of $5,442,464.40. Following the sale, the vice president now directly owns 27,161 shares in the company, valued at $10,091,669.55. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Linde news, VP Guillermo Bichara sold 14,648 shares of Linde stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $371.55, for a total transaction of $5,442,464.40. Following the completion of the transaction, the vice president now owns 27,161 shares in the company, valued at approximately $10,091,669.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen F. Angel sold 45,309 shares of Linde stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $372.35, for a total value of $16,870,806.15. Following the completion of the transaction, the director now owns 369,611 shares of the company's stock, valued at approximately $137,624,655.85. The disclosure for this sale can be found here. Insiders sold a total of 62,151 shares of company stock valued at $23,127,288 over the last 90 days. Company insiders own 0.25% of the company's stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Guardian Wealth Advisors LLC purchased a new stake in Linde in the first quarter valued at approximately $25,000. Strengthening Families & Communities LLC raised its position in Linde by 51.9% in the first quarter. Strengthening Families & Communities LLC now owns 82 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 28 shares during the period. Manitou Investment Management Ltd. purchased a new stake in shares of Linde during the first quarter worth $29,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Linde during the fourth quarter worth $30,000. Finally, FWL Investment Management LLC purchased a new stake in shares of Linde during the fourth quarter worth $30,000. 78.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE LIN opened at $362.29 on Thursday. Linde has a 52 week low of $262.47 and a 52 week high of $373.58. The business has a 50-day simple moving average of $362.27 and a two-hundred day simple moving average of $343.80. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 0.28. The company has a market cap of $177.65 billion, a P/E ratio of 40.21, a P/E/G ratio of 2.61 and a beta of 0.84.

Linde (NYSE:LIN - Get Rating) last issued its earnings results on Thursday, April 27th. The basic materials company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.12 by $0.30. Linde had a return on equity of 15.71% and a net margin of 13.46%. The business had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter last year, the company earned $2.93 EPS. The firm's revenue was down .1% compared to the same quarter last year. Research analysts anticipate that Linde will post 13.88 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be paid a $1.275 dividend. This represents a $5.10 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, June 1st. Linde's dividend payout ratio (DPR) is 56.60%.

Linde Plc is a global industrial gases and engineering company. It designs and builds equipment that produces industrial gases. The company also offers gas production and processing services such as olefin plants, natural gas plants, air separation plants, hydrogen and synthesis gas plants and other types of plants.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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