Linde PLC (NASDAQ:LIN) Shares Sold by Cypress Capital Group

Cypress Capital Group trimmed its position in Linde PLC (NASDAQ:LIN) by 11.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,799 shares of the basic materials company’s stock after selling 867 shares during the period. Cypress Capital Group’s holdings in Linde were worth $3,166,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Prosperity Consulting Group LLC lifted its stake in shares of Linde by 4.5% during the fourth quarter. Prosperity Consulting Group LLC now owns 7,788 shares of the basic materials company’s stock worth $3,261,000 after buying an additional 332 shares during the period. Jump Financial LLC raised its holdings in shares of Linde by 300.3% during the fourth quarter. Jump Financial LLC now owns 26,150 shares of the basic materials company’s stock worth $10,948,000 after purchasing an additional 19,618 shares during the last quarter. Taurus Asset Management LLC raised its holdings in shares of Linde by 0.9% during the fourth quarter. Taurus Asset Management LLC now owns 55,009 shares of the basic materials company’s stock worth $23,031,000 after purchasing an additional 484 shares during the last quarter. AlTi Global Inc. purchased a new position in shares of Linde during the fourth quarter worth $971,000. Finally, Truist Financial Corp raised its holdings in shares of Linde by 75.0% during the first quarter. Truist Financial Corp now owns 193,563 shares of the basic materials company’s stock worth $90,131,000 after purchasing an additional 82,952 shares during the last quarter. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup raised shares of Linde from a “neutral” rating to a “buy” rating and raised their target price for the stock from $500.00 to $535.00 in a report on Monday, June 30th. JPMorgan Chase & Co. raised their target price on shares of Linde from $470.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. UBS Group raised their target price on shares of Linde from $485.00 to $504.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada assumed coverage on shares of Linde in a report on Friday, June 13th. They set an “outperform” rating and a $576.00 target price for the company. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $519.63.

Insider Activity

In other news, Director Stephen F. Angel sold 50,309 shares of Linde stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $473.38, for a total value of $23,815,274.42. Following the sale, the director owned 480,543 shares in the company, valued at $227,479,445.34. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David P. Strauss sold 1,987 shares of Linde stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $457.04, for a total transaction of $908,138.48. Following the completion of the sale, the vice president owned 22,639 shares in the company, valued at approximately $10,346,928.56. This trade represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,557 shares of company stock worth $28,037,479 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Linde Stock Up 0.6%

LIN opened at $472.42 on Monday. Linde PLC has a fifty-two week low of $408.65 and a fifty-two week high of $487.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.78 and a current ratio of 0.93. The company has a fifty day moving average of $467.81 and a two-hundred day moving average of $459.00. The stock has a market capitalization of $221.52 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 3.12 and a beta of 0.92.

Linde (NASDAQ:LIN) last announced its earnings results on Friday, August 1st. The basic materials company reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.06. Linde had a net margin of 20.20% and a return on equity of 19.09%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the business earned $3.85 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts expect that Linde PLC will post 16.54 earnings per share for the current year.

Linde Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $1.50 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.00 annualized dividend and a dividend yield of 1.3%. Linde’s dividend payout ratio (DPR) is 42.67%.

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.