Raymond James Trust N.A. Lowers Stake in Linde plc (NYSE:LIN)

Raymond James Trust N.A. lowered its holdings in shares of Linde plc (NYSE:LINGet Rating) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,204 shares of the basic materials company’s stock after selling 125 shares during the quarter. Raymond James Trust N.A.’s holdings in Linde were worth $2,934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LIN. Charter Trust Co. grew its stake in shares of Linde by 5.3% in the first quarter. Charter Trust Co. now owns 636 shares of the basic materials company’s stock worth $203,000 after acquiring an additional 32 shares during the period. Wealth Alliance Advisory Group LLC grew its stake in shares of Linde by 2.0% in the first quarter. Wealth Alliance Advisory Group LLC now owns 1,624 shares of the basic materials company’s stock worth $519,000 after acquiring an additional 32 shares during the period. Regent Peak Wealth Advisors LLC grew its stake in shares of Linde by 3.4% in the first quarter. Regent Peak Wealth Advisors LLC now owns 984 shares of the basic materials company’s stock worth $314,000 after acquiring an additional 32 shares during the period. Baldwin Brothers LLC MA grew its position in Linde by 11.0% during the first quarter. Baldwin Brothers LLC MA now owns 333 shares of the basic materials company’s stock valued at $106,000 after buying an additional 33 shares during the period. Finally, Salem Investment Counselors Inc. grew its position in Linde by 2.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,234 shares of the basic materials company’s stock valued at $427,000 after buying an additional 34 shares during the period. Institutional investors own 77.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LIN. Bank of America cut their target price on shares of Linde from $370.00 to $369.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Evercore ISI upgraded shares of Linde from an “in-line” rating to an “outperform” rating and set a $355.00 target price for the company in a research report on Tuesday, May 31st. Stifel Nicolaus upgraded shares of Linde from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Jefferies Financial Group cut their target price on shares of Linde from $390.00 to $355.00 in a research report on Thursday, June 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Linde from €370.00 ($377.55) to €355.00 ($362.24) and set a “buy” rating for the company in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Linde currently has an average rating of “Moderate Buy” and an average price target of $365.60.

Linde Price Performance

LIN stock opened at $274.07 on Friday. Linde plc has a one year low of $265.12 and a one year high of $352.18. The company’s fifty day moving average price is $291.56 and its 200-day moving average price is $301.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 0.74. The company has a market capitalization of $136.59 billion, a PE ratio of 39.72, a price-to-earnings-growth ratio of 2.33 and a beta of 0.88.

Linde (NYSE:LINGet Rating) last released its earnings results on Thursday, July 28th. The basic materials company reported $3.10 EPS for the quarter, topping the consensus estimate of $2.98 by $0.12. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.39 billion. Linde had a net margin of 10.88% and a return on equity of 13.41%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.70 earnings per share. On average, equities analysts anticipate that Linde plc will post 11.89 EPS for the current fiscal year.

Linde Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, September 1st. Linde’s payout ratio is 67.83%.

Linde Profile

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Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia 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.

Further Reading

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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