Pinnacle Associates Ltd. trimmed its stake in shares of Linde PLC (NYSE:LIN) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,525 shares of the basic materials company’s stock after selling 200 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Linde were worth $507,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC bought a new position in Linde during the 1st quarter valued at $29,000. Harvest Group Wealth Management LLC bought a new position in Linde during the 1st quarter valued at $31,000. Israel Discount Bank of New York bought a new position in Linde during the 1st quarter valued at $35,000. Alera Investment Advisors LLC boosted its stake in Linde by 50.9% during the 1st quarter. Alera Investment Advisors LLC now owns 243 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 82 shares during the last quarter. Finally, Ibex Wealth Advisors bought a new position in Linde during the 2nd quarter valued at $50,000. Hedge funds and other institutional investors own 72.65% of the company’s stock.
Linde stock opened at $184.26 on Friday. The firm’s 50-day moving average is $196.23 and its 200-day moving average is $185.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.85 and a current ratio of 1.02. Linde PLC has a 1 year low of $145.95 and a 1 year high of $206.82. The company has a market cap of $102.85 billion, a P/E ratio of 29.54, a PEG ratio of 2.10 and a beta of 0.76.
In related news, VP Bernd Hugo Eulitz sold 335 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $186.43, for a total value of $62,454.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen F. Angel sold 56,574 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $197.27, for a total transaction of $11,160,352.98. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
A number of research firms have recently issued reports on LIN. Jefferies Financial Group restated a “buy” rating on shares of Linde in a research report on Friday, June 21st. JPMorgan Chase & Co. raised their price target on shares of Linde from $206.00 to $208.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. UBS Group restated a “buy” rating on shares of Linde in a research report on Friday, July 12th. KeyCorp raised their price target on shares of Linde from $205.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, ValuEngine downgraded shares of Linde from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. Linde currently has a consensus rating of “Buy” and an average price target of $201.83.
Linde Company 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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