Red Door Wealth Management LLC Has $376,000 Position in Linde plc (NASDAQ:LIN)

Red Door Wealth Management LLC lowered its stake in shares of Linde plc (NASDAQ:LIN) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 809 shares of the basic materials company’s stock after selling 24 shares during the quarter. Red Door Wealth Management LLC’s holdings in Linde were worth $376,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Linde by 1.3% in 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 purchasing an additional 141,322 shares in the last quarter. Norges Bank acquired a new stake in shares of Linde during the 4th quarter valued at $3,066,825,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Linde by 3.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,959,993 shares of the basic materials company’s stock valued at $1,624,462,000 after acquiring an additional 138,585 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Linde by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,830,970 shares of the basic materials company’s stock valued at $1,162,708,000 after acquiring an additional 64,362 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Linde by 6.2% during the 3rd quarter. Royal Bank of Canada now owns 2,210,751 shares of the basic materials company’s stock valued at $823,174,000 after acquiring an additional 129,610 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Linde Stock Down 0.3 %

Linde stock traded down $1.41 during midday trading on Friday, reaching $438.81. The stock had a trading volume of 2,470,164 shares, compared to its average volume of 1,763,077. Linde plc has a 12 month low of $358.37 and a 12 month high of $477.71. The company has a market capitalization of $210.93 billion, a P/E ratio of 34.04, a PEG ratio of 2.75 and a beta of 0.95. The company has a fifty day moving average price of $435.71 and a two-hundred day moving average price of $433.91. The company has a current ratio of 0.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Linde (NASDAQ:LIN) last issued its earnings results on Thursday, May 2nd. The basic materials company reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. Linde had a return on equity of 17.49% and a net margin of 19.26%. The business had revenue of $8.10 billion during the quarter, compared to analyst estimates of $8.38 billion. During the same period in the previous year, the company posted $3.42 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts expect that Linde plc will post 15.51 EPS for the current fiscal year.

Linde Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a $1.39 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.27%. Linde’s payout ratio is presently 43.13%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HSBC cut their price objective on Linde from $458.00 to $452.00 and set a “buy” rating on the stock in a report on Monday, May 6th. UBS Group lowered Linde from a “buy” rating to a “neutral” rating and raised their target price for the stock from $482.00 to $510.00 in a research report on Wednesday, March 27th. Wells Fargo & Company raised their target price on Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. BMO Capital Markets lowered 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, May 6th. Finally, Citigroup lowered Linde from a “buy” rating to a “neutral” rating and raised their target price for the stock from $475.00 to $500.00 in a research report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Linde currently has an average rating of “Moderate Buy” and an average price target of $468.83.

Linde Profile

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.