InTrack Investment Management Inc Lowers Stock Holdings in Linde plc (NASDAQ:LIN)

13 Oct 2024, 15:37 by Tristan Rich · The Markets Daily

InTrack Investment Management Inc trimmed its position in shares of Linde plc (NASDAQ:LIN – Free Report) by 15.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 567 shares of the basic materials company’s stock after selling 103 shares during the quarter. InTrack Investment Management Inc’s holdings in Linde were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC boosted its stake in shares of Linde by 1.3% in the 1st 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 period. Prentice Wealth Management LLC boosted its stake in shares of Linde by 1.7% in the 3rd quarter. Prentice Wealth Management LLC now owns 1,367 shares of the basic materials company’s stock valued at $652,000 after buying an additional 23 shares during the period. Quotient Wealth Partners LLC boosted its stake in shares of Linde by 0.9% in the 3rd quarter. Quotient Wealth Partners LLC now owns 2,706 shares of the basic materials company’s stock valued at $1,290,000 after buying an additional 23 shares during the period. Valued Wealth Advisors LLC boosted its stake in shares of Linde by 49.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock valued at $34,000 after buying an additional 24 shares during the period. Finally, CNB Bank boosted its stake in shares of Linde by 2.9% in the 1st quarter. CNB Bank now owns 847 shares of the basic materials company’s stock valued at $393,000 after buying an additional 24 shares during the period. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup lifted their price objective on Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Barclays raised their target price on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Bank of America raised their target price on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $477.00 target price on shares of Linde in a research report on Friday, August 30th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Linde has a consensus rating of “Moderate Buy” and a consensus price target of $484.18.

Check Out Our Latest Stock Report on Linde

Linde Stock Performance

Shares of LIN stock opened at $474.04 on Friday. The stock has a market capitalization of $227.86 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. Linde plc has a 52-week low of $361.02 and a 52-week high of $483.36. The stock’s 50-day moving average price is $465.85 and its 200 day moving average price is $449.92. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 0.43.

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

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $1.39 dividend. This represents a $5.56 annualized dividend and a yield of 1.17%. The ex-dividend date was Wednesday, September 4th. Linde’s dividend payout ratio (DPR) is presently 43.13%.

Insider Activity at Linde

In other Linde news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction that occurred 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 owns 17,584 shares in the company, valued at approximately $8,136,996. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by insiders.

Linde Profile

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