Institute for Wealth Management LLC. acquired a new stake in shares of Linde plc (NYSE:LIN) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 934 shares of the basic materials company’s stock, valued at approximately $262,000.
Other hedge funds also recently bought and sold shares of the company. Franklin Street Advisors Inc. NC boosted its holdings in Linde by 5.2% in the first quarter. Franklin Street Advisors Inc. NC now owns 68,953 shares of the basic materials company’s stock worth $19,317,000 after acquiring an additional 3,419 shares in the last quarter. Hedeker Wealth LLC boosted its stake in Linde by 1.1% in the 1st quarter. Hedeker Wealth LLC now owns 13,718 shares of the basic materials company’s stock worth $3,843,000 after purchasing an additional 154 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Linde by 7.2% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,002,980 shares of the basic materials company’s stock valued at $280,975,000 after purchasing an additional 67,344 shares during the last quarter. Great Diamond Partners LLC increased its stake in Linde by 21.9% during the 1st quarter. Great Diamond Partners LLC now owns 1,314 shares of the basic materials company’s stock valued at $368,000 after purchasing an additional 236 shares in the last quarter. Finally, Palisade Asset Management LLC raised its holdings in Linde by 30.2% in the first quarter. Palisade Asset Management LLC now owns 3,245 shares of the basic materials company’s stock worth $909,000 after buying an additional 752 shares during the last quarter. 72.64% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the stock. Barclays raised their price target on shares of Linde from $285.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, May 7th. Wells Fargo & Company boosted their price target on Linde from $311.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 11th. Deutsche Bank Aktiengesellschaft upped their price target on Linde from $330.00 to $345.00 and gave the company a “buy” rating in a report on Friday, May 7th. Berenberg Bank reissued a “buy” rating on shares of Linde in a research report on Tuesday, May 11th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Linde in a research note on Monday, February 8th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $305.00.
Linde (NYSE:LIN) last released its earnings results on Thursday, May 6th. The basic materials company reported $2.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.23. Linde had a return on equity of 8.56% and a net margin of 8.29%. On average, equities research analysts expect that Linde plc will post 8.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, June 3rd will be paid a dividend of $1.06 per share. The ex-dividend date of this dividend is Wednesday, June 2nd. This represents a $4.24 dividend on an annualized basis and a dividend yield of 1.41%. Linde’s dividend payout ratio (DPR) is presently 57.77%.
Linde Company Profile
Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers oxygen, nitrogen, argon, rare gases, carbon dioxide, hydrogen, helium, electronic and specialty gases, acetylene, and carbon monoxide. The company also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, hydrogen and synthesis gas, and other plants.
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