New York State Teachers Retirement System Has $202.56 Million Stake in Linde plc (NASDAQ:LIN)

New York State Teachers Retirement System cut its position in shares of Linde plc (NASDAQ:LIN) by 5.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 424,786 shares of the basic materials company’s stock after selling 24,616 shares during the quarter. New York State Teachers Retirement System’s holdings in Linde were worth $202,563,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Golden State Equity Partners boosted its holdings in shares of Linde by 22.6% during the 3rd quarter. Golden State Equity Partners now owns 3,054 shares of the basic materials company’s stock worth $1,456,000 after buying an additional 562 shares in the last quarter. Avitas Wealth Management LLC lifted its position in shares of Linde by 1.4% during the 3rd quarter. Avitas Wealth Management LLC now owns 5,384 shares of the basic materials company’s stock valued at $2,567,000 after acquiring an additional 76 shares during the period. Childress Capital Advisors LLC boosted its stake in Linde by 3.6% during the third quarter. Childress Capital Advisors LLC now owns 1,722 shares of the basic materials company’s stock worth $821,000 after acquiring an additional 60 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in Linde by 1.6% in the third quarter. Fidelis Capital Partners LLC now owns 3,024 shares of the basic materials company’s stock worth $1,444,000 after purchasing an additional 48 shares during the period. Finally, Valmark Advisers Inc. increased its stake in Linde by 0.7% in the third quarter. Valmark Advisers Inc. now owns 4,063 shares of the basic materials company’s stock valued at $1,937,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 82.80% of the company’s stock.

Linde Stock Down 0.1 %

LIN traded down $0.42 during mid-day trading on Wednesday, reaching $474.24. 152,503 shares of the stock were exchanged, compared to its average volume of 1,815,972. The company has a 50 day moving average price of $472.92 and a two-hundred day moving average price of $451.55. The stock has a market capitalization of $226.45 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95. Linde plc has a 1 year low of $376.70 and a 1 year high of $487.49.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $8.30 billion. During the same period in the prior year, the firm posted $3.57 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Linde plc will post 15.52 EPS for the current year.

Linde Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a dividend of $1.39 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 dividend on an annualized basis and a yield of 1.17%. Linde’s dividend payout ratio (DPR) is currently 42.31%.

Insiders Place Their Bets

In related news, VP John Panikar sold 10,025 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the completion of the transaction, the vice president now owns 17,584 shares in the company, valued at approximately $8,136,996. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays raised their price objective on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Citigroup upped their target price on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. BMO Capital Markets reissued an “outperform” rating and issued a $477.00 price target on shares of Linde in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $484.18.

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.