Brooklyn Investment Group Raises Stock Holdings in Linde plc (NASDAQ:LIN)

Brooklyn Investment Group raised its position in shares of Linde plc (NASDAQ:LIN) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,081 shares of the basic materials company’s stock after purchasing an additional 112 shares during the quarter. Brooklyn Investment Group’s holdings in Linde were worth $1,469,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in Linde during the 2nd quarter worth about $28,000. Kozak & Associates Inc. purchased a new stake in Linde in the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Linde during the 3rd quarter worth approximately $43,000. J.Safra Asset Management Corp purchased a new position in shares of Linde during the 2nd quarter valued at approximately $42,000. Finally, Hazlett Burt & Watson Inc. lifted its stake 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 purchasing an additional 56 shares during the period. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Linde Stock Performance

Shares of LIN opened at $455.77 on Tuesday. Linde plc has a 1 year low of $396.07 and a 1 year high of $487.49. The stock has a 50-day simple moving average of $468.16 and a 200-day simple moving average of $453.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96. The stock has a market capitalization of $217.02 billion, a PE ratio of 34.60, a PEG ratio of 2.91 and a beta of 0.94.

Linde (NASDAQ:LIN) last announced its quarterly earnings results 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. Linde had a return on equity of 18.16% and a net margin of 19.33%. The company had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same period in the previous year, the business earned $3.63 EPS. Linde’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts predict that Linde plc will post 15.48 earnings per share for the current fiscal year.

Linde Announces Dividend

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

Insider Buying and Selling

In other news, VP John Panikar sold 10,025 shares of Linde stock in a transaction 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 transaction, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. The trade was a 36.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Erste Group Bank reaffirmed a “hold” rating on shares of Linde in a report on Tuesday, November 19th. JPMorgan Chase & Co. raised 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. Deutsche Bank Aktiengesellschaft upped their target price on Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Barclays boosted their price target on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $490.75.

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.