First Merchants Corp Acquires 6,034 Shares of Linde PLC (NYSE:LIN)

First Merchants Corp increased its holdings in Linde PLC (NYSE:LIN) by 125.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,859 shares of the basic materials company’s stock after purchasing an additional 6,034 shares during the period. First Merchants Corp’s holdings in Linde were worth $2,180,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LIN. Cadence Capital Management LLC lifted its position in Linde by 4.9% during the 1st quarter. Cadence Capital Management LLC now owns 2,458 shares of the basic materials company’s stock worth $432,000 after acquiring an additional 114 shares during the last quarter. Retirement Systems of Alabama lifted its position in Linde by 1.2% during the 1st quarter. Retirement Systems of Alabama now owns 256,596 shares of the basic materials company’s stock worth $45,143,000 after acquiring an additional 3,110 shares during the last quarter. Toronto Dominion Bank lifted its position in Linde by 21.9% during the 1st quarter. Toronto Dominion Bank now owns 375,286 shares of the basic materials company’s stock worth $65,995,000 after acquiring an additional 67,298 shares during the last quarter. State Treasurer State of Michigan lifted its position in Linde by 1.4% during the 1st quarter. State Treasurer State of Michigan now owns 158,845 shares of the basic materials company’s stock worth $27,946,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Old North State Trust LLC acquired a new position in Linde during the 1st quarter worth $95,000. Hedge funds and other institutional investors own 73.08% of the company’s stock.

Shares of LIN opened at $190.69 on Monday. The company’s 50-day moving average is $201.55. The firm has a market capitalization of $102.29 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 2.02 and a beta of 0.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.35 and a quick ratio of 1.20. Linde PLC has a 52 week low of $145.95 and a 52 week high of $206.82.

Linde (NYSE:LIN) last announced its quarterly earnings data on Friday, May 10th. The basic materials company reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.15. Linde had a net margin of 23.52% and a return on equity of 14.95%. The business had revenue of $6.94 billion during the quarter, compared to analyst estimates of $7.03 billion. Equities research analysts predict that Linde PLC will post 6.95 earnings per share for the current year.

A number of research analysts have weighed in on the stock. UBS Group reissued a “buy” rating on shares of Linde in a research report on Friday, July 12th. Barclays upped their price objective on shares of Linde from $180.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. upped their price objective on shares of Linde from $189.00 to $206.00 and gave the company an “overweight” rating in a research report on Friday, June 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Linde in a research report on Friday, June 21st. Finally, Societe Generale reaffirmed a “buy” rating on shares of Linde in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Linde presently has a consensus rating of “Buy” and a consensus price target of $201.01.

In related news, CEO Stephen F. Angel sold 56,574 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $197.27, for a total value of $11,160,352.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christian Bruch purchased 1,474 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average cost of $179.21 per share, with a total value of $264,155.54. The disclosure for this purchase can be found here. Corporate insiders own 0.70% of the company’s stock.

Linde Profile

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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