Brooklyn Investment Group Increases Position in Linde plc (NASDAQ:LIN)

Brooklyn Investment Group grew its position in shares of Linde plc (NASDAQ:LIN) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,081 shares of the basic materials company’s stock after purchasing an additional 112 shares during the period. Brooklyn Investment Group’s holdings in Linde were worth $1,469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LIN. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Linde by 4.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,975 shares of the basic materials company’s stock worth $26,215,000 after purchasing an additional 2,312 shares during the period. Tidal Investments LLC lifted its stake in shares of Linde by 28.7% in the 1st quarter. Tidal Investments LLC now owns 20,071 shares of the basic materials company’s stock valued at $9,319,000 after acquiring an additional 4,479 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Linde by 3.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,540 shares of the basic materials company’s stock valued at $22,616,000 after acquiring an additional 1,564 shares during the last quarter. Waverton Investment Management Ltd boosted its holdings in Linde by 0.9% during the 3rd quarter. Waverton Investment Management Ltd now owns 196,036 shares of the basic materials company’s stock valued at $93,457,000 after acquiring an additional 1,811 shares during the period. Finally, M&G Plc increased its stake in Linde by 1.2% in the 2nd quarter. M&G Plc now owns 185,903 shares of the basic materials company’s stock worth $81,611,000 after purchasing an additional 2,252 shares during the period. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president now owns 17,584 shares in the company, valued at approximately $8,136,996. The trade was a 36.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Linde Stock Performance

NASDAQ:LIN opened at $455.77 on Tuesday. The stock has a 50-day moving average price of $468.16 and a 200 day moving average price of $453.84. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43. Linde plc has a 12-month low of $396.07 and a 12-month high of $487.49. The stock has a market capitalization of $217.02 billion, a P/E ratio of 34.60, a P/E/G ratio of 2.91 and a beta of 0.94.

Linde (NASDAQ:LIN) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.89 by $0.05. The business had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Linde had a net margin of 19.33% and a return on equity of 18.16%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.63 EPS. Equities research analysts forecast that Linde plc will post 15.48 EPS for the current fiscal year.

Linde Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio (DPR) is presently 42.22%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LIN shares. Erste Group Bank reiterated a “hold” rating on shares of Linde in a report on Tuesday, November 19th. Mizuho boosted their price objective on shares of Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Linde from $510.00 to $515.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Barclays upped their price target on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Linde has an average rating of “Moderate Buy” and an average target price of $490.75.

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.