Country Club Bank Trims Stake in Linde plc (NASDAQ:LIN)

Country Club Bank lowered its stake in Linde plc (NASDAQ:LIN) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,845 shares of the basic materials company’s stock after selling 27 shares during the period. Country Club Bank’s holdings in Linde were worth $1,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LIN. Clearbridge Investments LLC grew its stake in shares of Linde by 566.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,833,465 shares of the basic materials company’s stock worth $851,314,000 after buying an additional 1,558,538 shares during the last quarter. Swedbank AB purchased a new stake in shares of Linde in the 2nd quarter worth approximately $420,720,000. International Assets Investment Management LLC lifted its position in Linde by 47,830.2% in the 3rd quarter. International Assets Investment Management LLC now owns 936,076 shares of the basic materials company’s stock valued at $446,377,000 after acquiring an additional 934,123 shares in the last quarter. ProShare Advisors LLC lifted its position in Linde by 91.6% in the 1st quarter. ProShare Advisors LLC now owns 968,402 shares of the basic materials company’s stock valued at $449,648,000 after acquiring an additional 463,096 shares in the last quarter. Finally, iA Global Asset Management Inc. bought a new position in Linde in the 1st quarter valued at approximately $210,480,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Linde Stock Performance

LIN stock opened at $473.76 on Friday. The company has a market cap of $226.22 billion, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 3.05 and a beta of 0.94. Linde plc has a 1 year low of $366.12 and a 1 year high of $487.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. The stock’s fifty day moving average price is $472.24 and its 200-day moving average price is $451.19.

Linde (NASDAQ:LIN) last released 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. The company had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. Linde’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.57 earnings per share. On average, equities analysts forecast that Linde plc will post 15.52 earnings per share for the current year.

Linde Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $1.39 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.56 annualized dividend and a yield of 1.17%. Linde’s dividend payout ratio (DPR) is presently 42.31%.

Analysts Set New Price Targets

LIN has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Barclays upped their price objective on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group lowered their price objective on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $477.00 price objective on shares of Linde in a research report on Friday, August 30th. Finally, Bank of America upped their price objective on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Linde currently has an average rating of “Moderate Buy” and a consensus target price of $484.18.

Insider Activity at Linde

In related news, VP John Panikar sold 10,025 shares of Linde stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

Linde Company 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.