Linde (NASDAQ:LIN) PT Lowered to $452.00

Linde (NASDAQ:LIN) had its target price cut by stock analysts at HSBC from $458.00 to $452.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. HSBC’s price target points to a potential upside of 6.05% from the stock’s current price.

A number of other research firms have also recently issued reports on LIN. Seaport Res Ptn cut Linde from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. UBS Group cut Linde from a “buy” rating to a “neutral” rating and lifted their target price for the company from $482.00 to $510.00 in a research report on Wednesday, March 27th. Mizuho lifted their price objective on shares of Linde from $510.00 to $512.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets decreased their target price on Linde from $510.00 to $475.00 and set an “outperform” rating for the company in a research report on Monday. Finally, TD Cowen upped their price target on Linde from $395.00 to $455.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $464.69.

Linde Price Performance

NASDAQ:LIN traded up $2.60 during trading hours on Monday, reaching $426.20. 784,578 shares of the company were exchanged, compared to its average volume of 2,217,177. The company has a market capitalization of $204.87 billion, a P/E ratio of 32.96, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.91 and a quick ratio of 0.76. The business has a 50 day moving average of $455.47 and a 200 day moving average of $423.35. Linde has a 1-year low of $350.60 and a 1-year high of $477.71.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.07. Linde had a net margin of 19.26% and a return on equity of 17.49%. The business had revenue of $8.10 billion for the quarter, compared to analyst estimates of $8.38 billion. During the same quarter last year, the business posted $3.42 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts forecast that Linde will post 15.5 EPS for the current year.

Insider Transactions at Linde

In other news, SVP Oliver Pfann sold 300 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $414.61, for a total transaction of $124,383.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Oliver Pfann sold 300 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $414.61, for a total value of $124,383.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Juergen Nowicki sold 13,134 shares of Linde stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $459.14, for a total transaction of $6,030,344.76. Following the transaction, the vice president now directly owns 6,920 shares in the company, valued at $3,177,248.80. The disclosure for this sale can be found here. Insiders have sold 78,248 shares of company stock valued at $35,811,988 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Linde

A number of institutional investors have recently modified their holdings of LIN. FMR LLC increased its stake in shares of Linde by 2.6% in the 3rd quarter. FMR LLC now owns 13,919,350 shares of the basic materials company’s stock valued at $5,182,870,000 after purchasing an additional 354,506 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Linde by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,796,924 shares of the basic materials company’s stock valued at $4,434,406,000 after buying an additional 141,322 shares in the last quarter. Norges Bank acquired a new stake in Linde in the 4th quarter valued at $3,066,825,000. Winder Pte. Ltd. purchased a new stake in Linde in the 3rd quarter worth $1,892,774,000. Finally, Northern Trust Corp raised its position in Linde by 2.5% during the third quarter. Northern Trust Corp now owns 5,081,177 shares of the basic materials company’s stock worth $1,891,976,000 after acquiring an additional 123,174 shares during the period. Hedge funds and other institutional investors own 82.80% of the company’s stock.

About Linde

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.