Central Pacific Bank Trust Division Reduces Position in Linde plc (NASDAQ:LIN)

Central Pacific Bank Trust Division decreased its holdings in shares of Linde plc (NASDAQ:LIN) by 89.1% in the third quarter, HoldingsChannel reports. The fund owned 242 shares of the basic materials company’s stock after selling 1,987 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Linde were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boltwood Capital Management bought a new position in shares of Linde during the 3rd quarter valued at approximately $202,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Linde by 5.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,489 shares of the basic materials company’s stock worth $710,000 after purchasing an additional 77 shares during the period. Trust Co. of Toledo NA OH boosted its position in shares of Linde by 5.2% in the third quarter. Trust Co. of Toledo NA OH now owns 1,031 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 51 shares during the period. M&R Capital Management Inc. increased its stake in shares of Linde by 16.2% in the third quarter. M&R Capital Management Inc. now owns 2,294 shares of the basic materials company’s stock worth $1,094,000 after purchasing an additional 320 shares in the last quarter. Finally, Anchor Investment Management LLC raised its position in shares of Linde by 8.9% during the 2nd quarter. Anchor Investment Management LLC now owns 2,656 shares of the basic materials company’s stock valued at $1,165,000 after purchasing an additional 218 shares during the period. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Linde

In related news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction 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 in the company, valued at $8,136,996. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Citigroup upped their price objective on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. UBS Group decreased their target price on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Barclays upped their price target on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $477.00 target price on shares of Linde in a report on Friday, August 30th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $484.18.

Linde Stock Down 0.3 %

NASDAQ LIN opened at $468.18 on Friday. The stock has a 50 day moving average price of $464.17 and a 200-day moving average price of $449.97. Linde plc has a one year low of $361.02 and a one year high of $483.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95. The company has a market capitalization of $225.04 billion, a P/E ratio of 36.32, a P/E/G ratio of 3.00 and a beta of 0.94.

Linde (NASDAQ:LIN) last released its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, beating the consensus estimate of $3.79 by $0.06. Linde had a net margin of 19.49% and a return on equity of 17.92%. The business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the business earned $3.57 earnings per share. Linde’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that Linde plc will post 15.54 EPS for the current fiscal year.

Linde Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid 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 1.19%. Linde’s payout ratio is currently 43.13%.

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.