Invesco Ltd. raised its stake in shares of Linde PLC (NASDAQ:LIN – Free Report) by 26.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,402,317 shares of the basic materials company’s stock after buying an additional 1,114,751 shares during the period. Invesco Ltd.’s holdings in Linde were worth $2,303,494,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LIN. Capital International Investors raised its holdings in Linde by 20.1% during the fourth quarter. Capital International Investors now owns 7,610,387 shares of the basic materials company’s stock worth $3,245,255,000 after purchasing an additional 1,275,477 shares in the last quarter. S.E.E.D. Planning Group LLC boosted its stake in Linde by 8.9% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 27,341 shares of the basic materials company’s stock valued at $11,658,000 after purchasing an additional 2,234 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in Linde by 45.5% during the 3rd quarter. Temasek Holdings Private Ltd now owns 236,206 shares of the basic materials company’s stock valued at $112,198,000 after purchasing an additional 73,850 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Linde by 143.4% during the 4th quarter. Boston Trust Walden Corp now owns 15,044 shares of the basic materials company’s stock valued at $6,415,000 after purchasing an additional 8,863 shares during the period. Finally, J. Safra Sarasin Holding AG increased its position in shares of Linde by 3.0% during the 4th quarter. J. Safra Sarasin Holding AG now owns 83,262 shares of the basic materials company’s stock valued at $35,493,000 after purchasing an additional 2,408 shares during the period. 82.80% of the stock is currently owned by institutional investors.
Linde Stock Down 0.7%
Shares of Linde stock opened at $512.15 on Friday. The stock’s fifty day moving average is $506.23 and its 200-day moving average is $475.01. The firm has a market capitalization of $236.79 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 3.24 and a beta of 0.72. The company has a quick ratio of 0.69, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. Linde PLC has a 12-month low of $387.78 and a 12-month high of $525.87.
Linde Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, June 4th. Linde’s dividend payout ratio (DPR) is presently 42.50%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on LIN. Seaport Research Partners upped their price objective on Linde from $525.00 to $575.00 and gave the company a “buy” rating in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $575.00 price target on shares of Linde in a research report on Monday, May 4th. UBS Group reissued a “buy” rating and issued a $600.00 price target on shares of Linde in a report on Tuesday, June 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $560.00 price objective on shares of Linde in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Linde from $552.00 to $570.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Linde currently has a consensus rating of “Buy” and a consensus target price of $541.91.
Linde Company Profile
Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.
Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher‑value specialty and electronic gases.
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