Citigroup Raises Linde (NYSE:LIN) Price Target to $400.00

Linde (NYSE:LIN) had its price target lifted by Citigroup from $381.00 to $400.00 in a research note published on Tuesday morning, The Fly reports.

Other equities analysts have also recently issued reports about the company. Seaport Res Ptn reiterated a neutral rating on shares of Linde in a report on Tuesday, October 19th. UBS Group restated a buy rating on shares of Linde in a research note on Tuesday, November 2nd. Mizuho raised their price objective on Linde from $335.00 to $339.00 and gave the company a neutral rating in a research note on Friday, October 29th. Zacks Investment Research cut Linde from a buy rating to a hold rating and set a $356.00 price objective on the stock. in a research note on Monday, January 10th. Finally, Wolfe Research upgraded Linde from a peer perform rating to an outperform rating and raised their price objective for the company from $338.00 to $404.00 in a research note on Thursday, December 9th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $356.40.

Shares of LIN opened at $328.63 on Tuesday. Linde has a 12-month low of $240.80 and a 12-month high of $352.18. The business’s fifty day moving average is $334.05 and its 200 day moving average is $315.40. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.25. The stock has a market cap of $168.44 billion, a P/E ratio of 48.40, a P/E/G ratio of 2.87 and a beta of 0.82.

Linde (NYSE:LIN) last issued its earnings results on Thursday, October 28th. The basic materials company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.06. Linde had a return on equity of 11.29% and a net margin of 11.99%. The company had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period last year, the business earned $2.15 EPS. Linde’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts expect that Linde will post 10.6 EPS for the current year.

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

In other news, VP John Panikar sold 4,872 shares of Linde stock in a transaction on Tuesday, November 2nd. The stock was 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 SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Berkshire Asset Management LLC PA increased its holdings in Linde by 3.4% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 930 shares of the basic materials company’s stock worth $273,000 after acquiring an additional 31 shares during the last quarter. Rossmore Private Capital increased its holdings in Linde by 1.1% in the 2nd quarter. Rossmore Private Capital now owns 3,013 shares of the basic materials company’s stock worth $871,000 after acquiring an additional 33 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in Linde by 4.2% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 817 shares of the basic materials company’s stock worth $240,000 after acquiring an additional 33 shares during the last quarter. Manchester Capital Management LLC increased its holdings in Linde by 2.7% in the 2nd quarter. Manchester Capital Management LLC now owns 1,313 shares of the basic materials company’s stock worth $380,000 after acquiring an additional 34 shares during the last quarter. Finally, Navalign LLC increased its holdings in Linde by 1.4% in the 3rd quarter. Navalign LLC now owns 2,449 shares of the basic materials company’s stock worth $718,000 after acquiring an additional 34 shares during 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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