Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Linde PLC (NYSE:LIN) by 9.9% during the second quarter, HoldingsChannel.com reports. The firm owned 240,044 shares of the basic materials company’s stock after selling 26,321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Linde were worth $48,289,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Linde during the 1st quarter worth $29,000. Truvestments Capital LLC acquired a new position in shares of Linde during the 1st quarter worth $30,000. Harvest Group Wealth Management LLC acquired a new position in shares of Linde during the 1st quarter worth $31,000. Israel Discount Bank of New York acquired a new position in shares of Linde during the 1st quarter worth $35,000. Finally, Baystate Wealth Management LLC acquired a new position in shares of Linde during the 1st quarter worth $40,000. 73.08% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on LIN shares. DZ Bank reaffirmed a “buy” rating on shares of Linde in a research note on Monday, July 22nd. Sanford C. Bernstein reiterated a “sell” rating on shares of Linde in a research report on Thursday, July 18th. Societe Generale reiterated a “buy” rating on shares of Linde in a research report on Monday, April 15th. Deutsche Bank boosted their price objective on shares of Linde from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Bank of America boosted their price objective on shares of Linde from $180.00 to $184.00 and gave the stock an “underperform” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. Linde presently has a consensus rating of “Buy” and a consensus price target of $201.83.
Linde (NYSE:LIN) last released its earnings results on Friday, May 10th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.15. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $7.03 billion. Linde had a net margin of 19.47% and a return on equity of 11.05%. As a group, analysts expect that Linde PLC will post 7.1 earnings per share for the current year.
In other Linde news, VP Eduardo F. Menezes sold 19,056 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $188.23, for a total value of $3,586,910.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen F. Angel sold 56,574 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were 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 currently owned by corporate insiders.
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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