Linde (NYSE:LIN) Price Target Raised to $340.00

Linde (NYSE:LIN) had its price objective upped by The Goldman Sachs Group from $309.00 to $340.00 in a research note released on Tuesday, The Fly reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Other analysts have also recently issued research reports about the stock. Cowen started coverage on shares of Linde in a research note on Wednesday, March 24th. They issued a market perform rating and a $300.00 price target for the company. Barclays lifted their price objective on shares of Linde from $285.00 to $340.00 and gave the stock an overweight rating in a research note on Friday, May 7th. Morgan Stanley upped their price objective on shares of Linde from $285.00 to $330.00 and gave the stock an overweight rating in a research report on Monday, May 10th. JPMorgan Chase & Co. reissued a buy rating on shares of Linde in a report on Monday, February 8th. Finally, UBS Group reiterated 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’s stock. The company has a consensus rating of Buy and an average price target of $305.00.

Shares of NYSE LIN opened at $301.17 on Tuesday. Linde has a fifty-two week low of $177.92 and a fifty-two week high of $303.87. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.83 and a quick ratio of 0.71. The firm has a market capitalization of $156.62 billion, a P/E ratio of 71.54, a P/E/G ratio of 2.66 and a beta of 0.78. The company’s 50 day simple moving average is $287.50 and its 200 day simple moving average is $262.57.

Linde (NYSE:LIN) last announced its quarterly earnings results on Thursday, May 6th. The basic materials company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.23. Linde had a return on equity of 8.56% and a net margin of 8.29%. Sell-side analysts expect that Linde will post 8.08 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders 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 annualized dividend and a dividend yield of 1.41%. Linde’s payout ratio is currently 57.77%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Trustcore Financial Services LLC purchased a new position in shares of Linde in the fourth quarter worth about $25,000. Tortoise Investment Management LLC raised its stake in shares of Linde by 131.6% in the 1st quarter. Tortoise Investment Management LLC now owns 88 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Knuff & Co LLC raised its stake in shares of Linde by 75.4% in the 4th quarter. Knuff & Co LLC now owns 100 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Graves Light Private Wealth Management Inc. purchased a new stake in shares of Linde in the 4th quarter valued at approximately $26,000. Finally, Reby Advisors LLC purchased a new stake in shares of Linde in the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds own 72.64% of the company’s stock.

About Linde

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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