AlTi Global Inc. Has $298,000 Position in Linde plc (NASDAQ:LIN)

AlTi Global Inc. boosted its stake in Linde plc (NASDAQ:LIN) by 34.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 680 shares of the basic materials company’s stock after purchasing an additional 175 shares during the quarter. AlTi Global Inc.’s holdings in Linde were worth $298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Unisphere Establishment raised its holdings in Linde by 16.1% during the second quarter. Unisphere Establishment now owns 440,500 shares of the basic materials company’s stock worth $193,296,000 after buying an additional 61,000 shares during the last quarter. Point72 Europe London LLP bought a new stake in shares of Linde during the second quarter worth about $9,961,000. Zurich Insurance Group Ltd FI raised its holdings in shares of Linde by 86.4% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 195,378 shares of the basic materials company’s stock worth $85,734,000 after acquiring an additional 90,549 shares during the last quarter. Insigneo Advisory Services LLC lifted its position in Linde by 13.2% in the 2nd quarter. Insigneo Advisory Services LLC now owns 3,522 shares of the basic materials company’s stock valued at $1,562,000 after acquiring an additional 411 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Linde by 191.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 169,145 shares of the basic materials company’s stock valued at $74,223,000 after purchasing an additional 111,057 shares during the last quarter. 82.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LIN has been the subject of several analyst reports. UBS Group lowered their price objective on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $477.00 price objective on shares of Linde in a report on Friday, August 30th. Citigroup increased their target price on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their price target on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Barclays increased their price objective on shares of Linde from $460.00 to $510.00 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’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 Buying and Selling at Linde

In other news, VP John Panikar sold 10,025 shares of Linde stock in a transaction dated 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 completion of the transaction, the vice president now owns 17,584 shares in the company, valued at $8,136,996. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Linde Stock Up 1.0 %

Linde stock opened at $481.68 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $231.53 billion, a P/E ratio of 37.37, a P/E/G ratio of 2.99 and a beta of 0.94. The firm has a 50 day moving average price of $460.08 and a 200-day moving average price of $449.60. Linde plc has a twelve month low of $361.02 and a twelve month high of $482.11.

Linde (NASDAQ:LIN) last announced its quarterly earnings data 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 business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. Linde’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.57 earnings per share. As a group, equities analysts predict that Linde plc will post 15.54 EPS for the current year.

Linde Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Wednesday, September 4th. Linde’s dividend payout ratio is currently 43.13%.

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.