Linde plc (NASDAQ:LIN) Stake Lessened by Fortitude Family Office LLC

Fortitude Family Office LLC trimmed its stake in shares of Linde plc (NASDAQ:LIN) by 21.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113 shares of the basic materials company’s stock after selling 30 shares during the quarter. Fortitude Family Office LLC’s holdings in Linde were worth $54,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Retirement Group LLC bought a new position in shares of Linde during the first quarter worth about $25,000. Summit Securities Group LLC bought a new position in Linde during the 2nd quarter worth approximately $28,000. Kozak & Associates Inc. bought a new position in Linde during the 3rd quarter worth approximately $34,000. J.Safra Asset Management Corp acquired a new position in shares of Linde in the 2nd quarter worth approximately $42,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Linde by 133.3% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 98 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 56 shares during the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Linde

In other news, VP John Panikar sold 10,025 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by corporate insiders.

Linde Stock Performance

Shares of NASDAQ LIN opened at $474.66 on Wednesday. Linde plc has a 12-month low of $373.69 and a 12-month high of $487.49. The company has a market cap of $226.65 billion, a PE ratio of 36.12, a P/E/G ratio of 3.00 and a beta of 0.94. The stock has a 50 day simple moving average of $472.92 and a 200-day simple moving average of $451.55. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Linde (NASDAQ:LIN) last announced its earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.06. Linde had a return on equity of 17.92% and a net margin of 19.49%. The firm had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter in the previous year, the business earned $3.57 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts forecast that Linde plc will post 15.52 EPS for the current year.

Linde Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a $1.39 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 dividend on an annualized basis and a yield of 1.17%. Linde’s dividend payout ratio is presently 42.31%.

Wall Street Analysts Forecast Growth

LIN has been the topic of several research analyst reports. BMO Capital Markets restated an “outperform” rating and set a $477.00 price objective on shares of Linde in a research note on Friday, August 30th. UBS Group reduced their price target on shares of Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Citigroup boosted their price objective on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Bank of America raised their target price on shares of Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their target price on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $484.18.

Linde 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.