Parsons Capital Management Inc. RI Cuts Stock Position in Linde plc (NASDAQ:LIN)

Parsons Capital Management Inc. RI cut its holdings in shares of Linde plc (NASDAQ:LIN) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,591 shares of the basic materials company’s stock after selling 200 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Linde were worth $1,085,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Creative Planning grew its position in shares of Linde by 8.5% during the 2nd quarter. Creative Planning now owns 51,633 shares of the basic materials company’s stock valued at $22,657,000 after purchasing an additional 4,036 shares in the last quarter. Copperwynd Financial LLC lifted its holdings in shares of Linde by 5.0% in the 2nd quarter. Copperwynd Financial LLC now owns 564 shares of the basic materials company’s stock worth $256,000 after acquiring an additional 27 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Linde by 23.7% in the second quarter. NewEdge Advisors LLC now owns 37,602 shares of the basic materials company’s stock worth $16,500,000 after purchasing an additional 7,197 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Linde by 5.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 23,237 shares of the basic materials company’s stock valued at $10,199,000 after acquiring an additional 1,199 shares during the period. Finally, William B. Walkup & Associates Inc. bought a new position in shares of Linde in the second quarter worth approximately $88,000. 82.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Erste Group Bank restated 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 increased their target price on Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen raised shares of Linde from a “hold” rating to a “buy” rating and raised their price target for the company from $480.00 to $515.00 in a research report on Monday, January 13th. Finally, Citigroup decreased their target price on Linde from $490.00 to $480.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $501.82.

Insider Buying and Selling at Linde

In related news, Director Paula Rosput Reynolds purchased 100 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $441.34 per share, for a total transaction of $44,134.00. Following the acquisition, the director now owns 233 shares of the company’s stock, valued at approximately $102,832.22. This represents a 75.19 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP David P. Strauss sold 2,218 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $434.35, for a total transaction of $963,388.30. Following the completion of the sale, the vice president now directly owns 25,926 shares in the company, valued at approximately $11,260,958.10. This represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Linde Stock Up 0.1 %

LIN stock opened at $439.49 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. Linde plc has a twelve month low of $396.07 and a twelve month high of $487.49. The stock has a market cap of $209.27 billion, a P/E ratio of 33.37, a PEG ratio of 2.74 and a beta of 0.94. The business’s 50-day moving average price is $435.45 and its 200-day moving average price is $453.33.

Linde (NASDAQ:LIN) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.89 by $0.05. The business had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.39 billion. Linde had a return on equity of 18.16% and a net margin of 19.33%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.63 earnings per share. On average, equities research analysts forecast that Linde plc will post 15.45 EPS for the current year.

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.