Davidson Kempner Capital Management LP Sells 23,961 Shares of Linde plc (NASDAQ:LIN)

Davidson Kempner Capital Management LP lowered its holdings in Linde plc (NASDAQ:LIN) by 29.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,501 shares of the basic materials company’s stock after selling 23,961 shares during the quarter. Davidson Kempner Capital Management LP’s holdings in Linde were worth $25,232,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Members Trust Co grew its holdings in Linde by 3.7% in the first quarter. Members Trust Co now owns 646 shares of the basic materials company’s stock worth $300,000 after purchasing an additional 23 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its stake in Linde by 1.3% in the first quarter. Regent Peak Wealth Advisors LLC now owns 1,787 shares of the basic materials company’s stock valued at $830,000 after buying an additional 23 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in Linde by 44.4% in the fourth quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 24 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in shares of Linde by 49.0% during the first quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 24 shares during the last quarter. Finally, CNB Bank increased its holdings in shares of Linde by 2.9% during the first quarter. CNB Bank now owns 847 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Analyst Ratings Changes

LIN has been the subject of several research reports. Barclays lifted their price objective on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note 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. UBS Group decreased their target price on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $477.00 price target on shares of Linde in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Linde has an average rating of “Moderate Buy” and a consensus price target of $484.18.

Linde Stock Up 0.6 %

LIN stock opened at $471.91 on Monday. The company’s 50 day moving average price is $458.07 and its 200 day moving average price is $449.20. The firm has a market capitalization of $226.84 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.97 and a beta of 0.94. Linde plc has a fifty-two week low of $361.02 and a fifty-two week high of $479.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.06. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the firm earned $3.57 earnings per share. Linde’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Linde plc will post 15.54 EPS for the current fiscal year.

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $1.39 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.18%. Linde’s dividend payout ratio (DPR) is presently 43.13%.

Insider Activity at Linde

In other news, VP John Panikar sold 10,025 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 $8,136,996. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

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.