Fisher Asset Management LLC Has $419,000 Position in Linde plc (NYSE:LIN)

Posted by Defense World Staff on Apr 30th, 2023

Fisher Asset Management LLC lowered its stake in shares of Linde plc (NYSE:LIN – Get Rating) by 48.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,285 shares of the basic materials company’s stock after selling 1,192 shares during the period. Fisher Asset Management LLC’s holdings in Linde were worth $419,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. HighTower Trust Company N.A. acquired a new position in shares of Linde during the fourth quarter valued at about $223,000. Boston Trust Walden Corp raised its position in shares of Linde by 2.0% during the fourth quarter. Boston Trust Walden Corp now owns 17,669 shares of the basic materials company’s stock valued at $5,763,000 after buying an additional 341 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Linde by 26.2% during the third quarter. Ballentine Partners LLC now owns 3,804 shares of the basic materials company’s stock valued at $1,025,000 after buying an additional 789 shares during the last quarter. Eagle Bay Advisors LLC raised its position in shares of Linde by 23.7% during the fourth quarter. Eagle Bay Advisors LLC now owns 162 shares of the basic materials company’s stock valued at $53,000 after buying an additional 31 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Linde by 3.6% in the third quarter. Envestnet Asset Management Inc. now owns 376,568 shares of the basic materials company’s stock worth $101,519,000 after purchasing an additional 13,232 shares in the last quarter. Institutional investors and hedge funds own 78.15% of the company’s stock.

Insider Activity

In other Linde news, VP Sean Durbin sold 4,060 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $360.17, for a total value of $1,462,290.20. Following the transaction, the vice president now directly owns 8,432 shares of the company’s stock, valued at $3,036,953.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LIN shares. Mizuho increased their price target on shares of Linde from $370.00 to $382.00 in a research report on Friday. Citigroup increased their price target on shares of Linde from $402.00 to $418.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. 888 reissued a “maintains” rating on shares of Linde in a research report on Friday. Wells Fargo & Company increased their price target on shares of Linde from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Linde from $385.00 to $415.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.38.

Linde Price Performance

LIN opened at $369.45 on Friday. Linde plc has a one year low of $262.47 and a one year high of $370.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.73 and a quick ratio of 0.67. The company’s 50 day simple moving average is $350.89 and its 200-day simple moving average is $331.94. The stock has a market capitalization of $181.83 billion, a P/E ratio of 41.00, a price-to-earnings-growth ratio of 2.69 and a beta of 0.83.

Linde (NYSE:LIN – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The basic materials company reported $3.42 EPS for the quarter, beating the consensus estimate of $3.12 by $0.30. Linde had a net margin of 13.46% and a return on equity of 15.71%. The business had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the prior year, the firm earned $2.93 earnings per share. Linde’s revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that Linde plc will post 13.59 earnings per share for the current fiscal year.

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be paid a dividend of $1.275 per share. The ex-dividend date is Thursday, June 1st. This represents a $5.10 annualized dividend and a dividend yield of 1.38%. Linde’s dividend payout ratio (DPR) is currently 56.60%.

Linde Company Profile

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Linde Plc is a global industrial gases and engineering company. It designs and builds equipment that produces industrial gases. The company also offers gas production and processing services such as olefin plants, natural gas plants, air separation plants, hydrogen and synthesis gas plants and other types of plants.