Linde (NASDAQ:LIN) Price Target Raised to $515.00

Linde (NASDAQ:LIN) had its price target increased by Deutsche Bank Aktiengesellschaft from $510.00 to $515.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. BMO Capital Markets boosted their price objective on shares of Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America lifted their price target on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays upped their price target on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Mizuho lifted their price objective on Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Linde currently has a consensus rating of “Moderate Buy” and an average target price of $490.75.

Linde Stock Up 0.3 %

Shares of NASDAQ:LIN opened at $457.31 on Friday. The company has a market cap of $218.37 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.89 and a beta of 0.94. Linde has a fifty-two week low of $385.12 and a fifty-two week high of $487.49. The firm’s 50-day simple moving average is $472.87 and its 200-day simple moving average is $451.90. The company has a quick ratio of 0.80, a current ratio of 0.96 and a debt-to-equity ratio of 0.43.

Linde (NASDAQ:LIN) last released its earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 18.16% and a net margin of 19.33%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.63 EPS. As a group, equities research analysts predict that Linde will post 15.52 earnings per share for the current year.

Linde Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio is presently 42.22%.

Insider Activity at Linde

In other Linde 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 transaction of $4,639,068.75. Following the sale, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LIN. Kovack Advisors Inc. grew its holdings in Linde by 23.6% in the first quarter. Kovack Advisors Inc. now owns 612 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 117 shares during the period. Norden Group LLC purchased a new position in shares of Linde in the 1st quarter worth $315,000. Diversify Advisory Services LLC acquired a new position in Linde in the first quarter valued at $901,000. Mission Wealth Management LP grew its position in Linde by 30.9% during the first quarter. Mission Wealth Management LP now owns 2,073 shares of the basic materials company’s stock valued at $963,000 after acquiring an additional 489 shares during the period. Finally, GLOBALT Investments LLC GA increased its stake in Linde by 5.1% during the first quarter. GLOBALT Investments LLC GA now owns 3,310 shares of the basic materials company’s stock worth $1,537,000 after acquiring an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

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.