Summit Trail Advisors LLC Purchases 1,822 Shares of Linde plc (NASDAQ:LIN)

24 Nov 2024, 09:18 by Amy Steele · The Cerbat Gem

Summit Trail Advisors LLC grew its position in Linde plc (NASDAQ:LIN – Free Report) by 27.2% in the third quarter, Holdings Channel reports. The fund owned 8,517 shares of the basic materials company’s stock after acquiring an additional 1,822 shares during the quarter. Summit Trail Advisors LLC’s holdings in Linde were worth $4,061,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Linde by 212.0% in the 3rd quarter. Larson Financial Group LLC now owns 986 shares of the basic materials company’s stock valued at $470,000 after acquiring an additional 670 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in Linde by 6.6% in the third quarter. Kingsview Wealth Management LLC now owns 5,229 shares of the basic materials company’s stock valued at $2,493,000 after purchasing an additional 325 shares during the period. Cerity Partners LLC increased its holdings in Linde by 13.9% in the third quarter. Cerity Partners LLC now owns 152,770 shares of the basic materials company’s stock valued at $72,850,000 after purchasing an additional 18,698 shares during the period. Nwam LLC acquired a new stake in Linde in the third quarter valued at $495,000. Finally, Meridian Wealth Management LLC increased its holdings in Linde by 9.5% in the third quarter. Meridian Wealth Management LLC now owns 1,801 shares of the basic materials company’s stock valued at $859,000 after purchasing an additional 156 shares during the period. 82.80% of the stock is currently owned by institutional investors.

Insider Transactions at Linde

In related news, VP John Panikar sold 10,025 shares of the firm’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 transaction, the vice president now owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. This trade represents a 36.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on LIN shares. Mizuho increased their price objective on Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price objective on Linde from $510.00 to $515.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Bank of America increased their price objective on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Linde in a report on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $490.75.

Check Out Our Latest Report on LIN

Linde Price Performance

LIN stock opened at $454.78 on Friday. The stock has a market capitalization of $216.55 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 2.92 and a beta of 0.94. The company’s 50-day moving average is $468.54 and its 200-day moving average is $453.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81. Linde plc has a 1 year low of $396.07 and a 1 year high of $487.49.

Linde (NASDAQ:LIN – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.05. The company 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 revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.63 EPS. Equities research analysts expect that Linde plc will post 15.48 EPS for the current fiscal year.

Linde Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.22%. Linde’s dividend payout ratio (DPR) is presently 42.22%.

Linde Profile

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