DAVENPORT & Co LLC reduced its position in Linde PLC (NYSE:LIN) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,522 shares of the basic materials company’s stock after selling 77 shares during the quarter. DAVENPORT & Co LLC’s holdings in Linde were worth $959,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its holdings in Linde by 0.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,610,464 shares of the basic materials company’s stock valued at $2,354,610,000 after buying an additional 40,175 shares during the period. Capital World Investors increased its holdings in Linde by 54.9% in the 1st quarter. Capital World Investors now owns 10,112,478 shares of the basic materials company’s stock valued at $1,755,173,000 after buying an additional 3,585,367 shares during the period. Deutsche Bank AG increased its holdings in Linde by 8.8% in the 1st quarter. Deutsche Bank AG now owns 9,260,770 shares of the basic materials company’s stock valued at $1,602,113,000 after buying an additional 750,451 shares during the period. Bank of New York Mellon Corp increased its holdings in Linde by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 9,172,509 shares of the basic materials company’s stock valued at $1,586,846,000 after buying an additional 195,514 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Linde by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 8,719,591 shares of the basic materials company’s stock valued at $1,509,457,000 after buying an additional 949,256 shares during the period. 76.42% of the stock is currently owned by hedge funds and other institutional investors.

LIN has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised shares of Linde from a “neutral” rating to an “overweight” rating and raised their target price for the company from $200.00 to $280.00 in a report on Friday. Citigroup lifted their price target on shares of Linde from $209.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. BMO Capital Markets lifted their price target on shares of Linde from $217.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Norddeutsche Landesbank reaffirmed a “hold” rating on shares of Linde in a report on Thursday, May 14th. Finally, Cfra decreased their price target on shares of Linde from $245.00 to $209.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Linde presently has a consensus rating of “Buy” and a consensus price target of $226.24.

Shares of NYSE LIN opened at $245.35 on Friday. The company has a market capitalization of $127.11 billion, a P/E ratio of 57.87, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. Linde PLC has a 52-week low of $146.71 and a 52-week high of $248.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 0.80. The company’s 50 day moving average price is $222.96 and its 200-day moving average price is $200.90.

Linde (NYSE:LIN) last released its earnings results on Thursday, July 30th. The basic materials company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.25. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Linde had a net margin of 8.37% and a return on equity of 8.27%. Analysts forecast that Linde PLC will post 7.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 3rd will be given a dividend of $0.963 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $3.85 annualized dividend and a yield of 1.57%. Linde’s payout ratio is currently 52.45%.

About Linde

Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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