Citigroup Raises Linde (NYSE:LIN) Price Target to $400.00

Linde (NYSE:LIN) had its price target boosted by Citigroup from $381.00 to $400.00 in a research report report published on Tuesday morning, The Fly reports.

Several other analysts have also commented on LIN. Wolfe Research raised shares of Linde from a peer perform rating to an outperform rating and increased their target price for the company from $338.00 to $404.00 in a research note on Thursday, December 9th. Wells Fargo & Company upped their price objective on shares of Linde from $360.00 to $365.00 and gave the company an overweight rating in a research note on Friday, October 29th. Mizuho upped their price objective on shares of Linde from $335.00 to $339.00 and gave the company a neutral rating in a research note on Friday, October 29th. UBS Group reiterated a buy rating on shares of Linde in a research note on Tuesday, November 2nd. Finally, Zacks Investment Research lowered shares of Linde from a buy rating to a hold rating and set a $356.00 price target on the stock. in a research note on Monday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $356.40.

LIN opened at $329.40 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.70 and a current ratio of 0.81. Linde has a 1-year low of $240.80 and a 1-year high of $352.18. The company has a 50-day moving average of $334.12 and a 200-day moving average of $315.13. The company has a market capitalization of $168.83 billion, a P/E ratio of 49.10, a PEG ratio of 2.87 and a beta of 0.82.

Linde (NYSE:LIN) last posted its earnings results on Thursday, October 28th. The basic materials company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.67 by $0.06. Linde had a net margin of 11.99% and a return on equity of 11.29%. The firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the prior year, the firm earned $2.15 EPS. Linde’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts expect that Linde will post 10.6 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Friday, December 3rd were issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, December 2nd. Linde’s dividend payout ratio (DPR) is presently 62.44%.

In other Linde news, VP John Panikar sold 4,872 shares of the stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $327.19, for a total value of $1,594,069.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Linde by 0.4% during the 2nd quarter. State Street Corp now owns 21,297,579 shares of the basic materials company’s stock worth $6,157,130,000 after acquiring an additional 89,235 shares during the period. FMR LLC lifted its holdings in shares of Linde by 0.5% during the 2nd quarter. FMR LLC now owns 10,327,048 shares of the basic materials company’s stock worth $2,983,291,000 after acquiring an additional 47,952 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Linde by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 8,052,181 shares of the basic materials company’s stock worth $2,355,620,000 after acquiring an additional 32,472 shares during the period. Capital World Investors increased its position in shares of Linde by 6.4% during the 3rd quarter. Capital World Investors now owns 6,241,199 shares of the basic materials company’s stock worth $1,834,423,000 after purchasing an additional 376,091 shares in the last quarter. Finally, Winder Investment Pte Ltd increased its position in shares of Linde by 2.1% during the 3rd quarter. Winder Investment Pte Ltd now owns 5,036,220 shares of the basic materials company’s stock worth $1,477,526,000 after purchasing an additional 105,117 shares in the last quarter. 71.37% of the stock is owned by institutional investors.

About Linde

Linde Plc engages in the production and distribution of industrial gases. It operates through the following segments: Americas; Europe, Middle East, and Africa (EMEA); Asia and South Pacific (APAC); Engineering; and Other. The America segment operates production facilities in the U.S., Canada, Mexico, and Brazil.

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