Stonegate Investment Group LLC Acquires 675 Shares of Linde plc (NASDAQ:LIN)

Stonegate Investment Group LLC grew its holdings in shares of Linde plc (NASDAQ:LIN) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,733 shares of the basic materials company’s stock after acquiring an additional 675 shares during the period. Stonegate Investment Group LLC’s holdings in Linde were worth $14,542,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LIN. Channel Wealth LLC lifted its holdings in Linde by 30.4% in the fourth quarter. Channel Wealth LLC now owns 7,385 shares of the basic materials company’s stock valued at $3,092,000 after buying an additional 1,723 shares during the period. Nordea Investment Management AB raised its position in shares of Linde by 2.2% in the 4th quarter. Nordea Investment Management AB now owns 2,145,643 shares of the basic materials company’s stock worth $898,188,000 after acquiring an additional 46,843 shares in the last quarter. M&T Bank Corp raised its position in shares of Linde by 6.7% in the 3rd quarter. M&T Bank Corp now owns 79,472 shares of the basic materials company’s stock worth $37,898,000 after acquiring an additional 5,021 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Linde by 16.8% in the 3rd quarter. Townsquare Capital LLC now owns 9,604 shares of the basic materials company’s stock worth $4,580,000 after acquiring an additional 1,383 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Linde by 4.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,975 shares of the basic materials company’s stock worth $26,215,000 after acquiring an additional 2,312 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Insider Transactions at Linde

In other news, VP David P. Strauss sold 2,218 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $434.35, for a total value of $963,388.30. Following the transaction, the vice president now owns 25,926 shares in the company, valued at $11,260,958.10. The trade was a 7.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Guillermo Bichara sold 4,385 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $460.73, for a total value of $2,020,301.05. Following the completion of the transaction, the vice president now owns 22,776 shares in the company, valued at $10,493,586.48. The trade was a 16.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Linde Price Performance

LIN stock opened at $439.49 on Tuesday. The company has a market capitalization of $209.27 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96. Linde plc has a 52-week low of $396.07 and a 52-week high of $487.49. The business has a 50-day simple moving average of $435.45 and a two-hundred day simple moving average of $453.33.

Linde (NASDAQ:LIN) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.05. The business had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.39 billion. Linde had a return on equity of 18.16% and a net margin of 19.33%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 EPS. Research analysts expect that Linde plc will post 15.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LIN. TD Cowen raised Linde from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $480.00 to $515.00 in a research report on Monday, January 13th. Erste Group Bank reissued a “hold” rating on shares of Linde in a research report on Tuesday, November 19th. Mizuho lifted their price objective on Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price objective on Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Linde from $510.00 to $515.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Linde presently has a consensus rating of “Moderate Buy” and an average price target of $501.82.

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.