IBM Retirement Fund Trims Stock Holdings in Linde PLC (NYSE:LIN)

IBM Retirement Fund reduced its stake in Linde PLC (NYSE:LIN) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,238 shares of the basic materials company’s stock after selling 98 shares during the quarter. IBM Retirement Fund’s holdings in Linde were worth $1,790,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Krane Funds Advisors LLC purchased a new stake in shares of Linde in the second quarter valued at $25,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Linde in the third quarter valued at $31,000. Harvest Fund Management Co. Ltd acquired a new position in Linde in the second quarter valued at $46,000. Ruggie Capital Group acquired a new position in Linde in the second quarter valued at $48,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in Linde in the second quarter valued at $49,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

LIN has been the subject of several analyst reports. Wells Fargo & Co initiated coverage on Linde in a research note on Tuesday, October 15th. They issued an “outperform” rating and a $223.00 target price for the company. Baader Bank reiterated a “sell” rating and issued a $150.00 target price on shares of Linde in a research note on Tuesday. ValuEngine lowered Linde from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Nord/LB reiterated a “neutral” rating and issued a $171.00 target price on shares of Linde in a research note on Tuesday. Finally, Bank of America upped their target price on Linde from $180.00 to $184.00 and gave the company an “underperform” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $195.44.

NYSE:LIN traded up $1.69 on Wednesday, hitting $207.45. 43,968 shares of the stock were exchanged, compared to its average volume of 1,650,928. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.85 and a current ratio of 1.02. The stock has a fifty day moving average of $194.52 and a 200-day moving average of $192.64. Linde PLC has a fifty-two week low of $145.95 and a fifty-two week high of $207.71.

Linde (NYSE:LIN) last announced its quarterly earnings results on Tuesday, November 12th. The basic materials company reported $1.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.16. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $7.14 billion. Linde had a return on equity of 12.10% and a net margin of 19.45%. As a group, research analysts forecast that Linde PLC will post 7.13 earnings per share for the current year.

In other Linde news, VP Bernd Hugo Eulitz sold 335 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $186.43, for a total transaction of $62,454.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.

See Also: Trading Strategy Examples and Plans

Want to see what other hedge funds are holding LIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Linde PLC (NYSE:LIN).

Institutional Ownership by Quarter for Linde (NYSE:LIN)

Receive News & Ratings for Linde Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Linde and related companies with MarketBeat.com's FREE daily email newsletter.