Praxair, Inc. (NYSE:PX) had its target price increased by J P Morgan Chase & Co from $145.00 to $172.00 in a report published on Friday. J P Morgan Chase & Co currently has an overweight rating on the basic materials company’s stock.
PX has been the topic of several other research reports. Susquehanna Bancshares Inc lifted their target price on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. BidaskClub raised Praxair from a sell rating to a hold rating in a research note on Thursday, August 17th. Argus raised Praxair from a hold rating to a buy rating and set a $171.00 target price on the stock in a research note on Monday, November 13th. Citigroup Inc. raised Praxair from a neutral rating to a buy rating and lifted their target price for the company from $137.00 to $168.00 in a research note on Monday, October 30th. Finally, KeyCorp reaffirmed a hold rating on shares of Praxair in a research note on Sunday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $151.36.
Shares of Praxair (NYSE:PX) traded up $1.60 on Friday, reaching $150.64. The company had a trading volume of 2,919,280 shares, compared to its average volume of 1,309,045. The stock has a market cap of $42,360.00, a PE ratio of 25.72, a P/E/G ratio of 2.20 and a beta of 0.99. Praxair has a 1 year low of $115.00 and a 1 year high of $151.44. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be paid a $0.7875 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.09%. Praxair’s payout ratio is 56.05%.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the sale, the director now owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.23% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Kistler Tiffany Companies LLC lifted its holdings in Praxair by 149.8% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 430 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 123 shares during the last quarter. BB&T Investment Services Inc. acquired a new stake in Praxair in the 2nd quarter worth approximately $106,000. Tortoise Investment Management LLC lifted its holdings in Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 31 shares during the last quarter. Finally, Pacific Center for Financial Services lifted its holdings in Praxair by 65.7% in the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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