Morgan Stanley Boosts Linde (NYSE:LIN) Price Target to $365.00

Linde (NYSE:LIN) had its price objective lifted by Morgan Stanley from $330.00 to $365.00 in a report issued on Tuesday, Analyst Price Targets reports. The firm currently has an overweight rating on the basic materials company’s stock.

Several other analysts also recently issued reports on LIN. Wells Fargo & Company upped their price objective on shares of Linde from $360.00 to $365.00 and gave the stock an overweight rating in a report on Friday, October 29th. Zacks Investment Research downgraded shares of Linde from a buy rating to a hold rating and set a $356.00 price objective for the company. in a report on Monday. Wolfe Research raised shares of Linde from a peer perform rating to an outperform rating and raised their price objective for the stock from $338.00 to $404.00 in a report on Thursday, December 9th. Citigroup raised their price objective on shares of Linde from $381.00 to $400.00 in a report on Tuesday. Finally, UBS Group reiterated a buy rating on shares of Linde in a research report on Tuesday, November 2nd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $356.40.

Linde stock opened at $329.40 on Tuesday. The firm has a market cap of $168.83 billion, a PE ratio of 49.10, a P/E/G ratio of 2.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.70 and a current ratio of 0.81. The firm’s 50 day moving average price is $334.12 and its two-hundred day moving average price is $315.13. Linde has a twelve month low of $240.80 and a twelve month high of $352.18.

Linde (NYSE:LIN) last announced its quarterly earnings results on Thursday, October 28th. The basic materials company reported $2.73 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the business posted $2.15 EPS. Linde’s quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts anticipate that Linde will post 10.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Friday, December 3rd were given a $1.06 dividend. The ex-dividend date was Thursday, December 2nd. This represents a $4.24 dividend on an annualized basis and a dividend yield of 1.29%. Linde’s payout ratio is presently 62.44%.

In related news, VP John Panikar sold 4,872 shares of the company’s stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $327.19, for a total transaction of $1,594,069.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Linde by 0.4% in the second quarter. State Street Corp now owns 21,297,579 shares of the basic materials company’s stock valued at $6,157,130,000 after buying an additional 89,235 shares during the period. FMR LLC increased its position in Linde by 0.5% during the 2nd quarter. FMR LLC now owns 10,327,048 shares of the basic materials company’s stock valued at $2,983,291,000 after purchasing an additional 47,952 shares during the period. Geode Capital Management LLC increased its position in 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 valued at $2,355,620,000 after purchasing an additional 32,472 shares during the period. Capital World Investors increased its position in Linde by 6.4% during the 3rd quarter. Capital World Investors now owns 6,241,199 shares of the basic materials company’s stock valued at $1,834,423,000 after purchasing an additional 376,091 shares during the period. Finally, Winder Investment Pte Ltd boosted its holdings 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 buying 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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Analyst Recommendations for Linde (NYSE:LIN)