Citigroup Raises Linde (NYSE:LIN) Price Target to $400.00

Linde (NYSE:LIN) had its target price increased by Citigroup from $381.00 to $400.00 in a research note released on Tuesday morning, The Fly reports.

A number of other research analysts have also weighed in on LIN. Zacks Investment Research lowered shares of Linde from a buy rating to a hold rating and set a $356.00 price target on the stock. in a research note on Monday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Linde from $350.00 to $360.00 and gave the stock a buy rating in a research report on Friday, October 29th. Wells Fargo & Company boosted their price objective on shares of Linde from $360.00 to $365.00 and gave the stock an overweight rating in a research report on Friday, October 29th. Seaport Res Ptn reissued a neutral rating on shares of Linde in a research report on Tuesday, October 19th. Finally, Mizuho boosted their price objective on shares of Linde from $335.00 to $339.00 and gave the stock a neutral rating in a research report on Friday, October 29th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Buy and an average target price of $356.40.

Shares of LIN opened at $328.63 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.70 and a current ratio of 0.81. Linde has a twelve month low of $240.80 and a twelve month high of $352.18. The firm’s 50 day moving average price is $334.05 and its two-hundred day moving average price is $315.40. The firm has a market cap of $168.44 billion, a P/E ratio of 48.40, a PEG ratio of 2.87 and a beta of 0.82.

Linde (NYSE:LIN) last announced its quarterly earnings results on Thursday, October 28th. The basic materials company reported $2.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.67 by $0.06. Linde had a net margin of 11.99% and a return on equity of 11.29%. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Linde will post 10.6 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Friday, December 3rd were issued a $1.06 dividend. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $4.24 annualized dividend and a dividend yield of 1.29%. Linde’s dividend payout ratio is currently 62.44%.

In other Linde news, VP John Panikar sold 4,872 shares of the company’s stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $327.19, for a total value of $1,594,069.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in LIN. First Trust Advisors LP grew its stake in shares of Linde by 450.4% in the first quarter. First Trust Advisors LP now owns 14,668 shares of the basic materials company’s stock valued at $2,581,000 after acquiring an additional 12,003 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Linde by 12.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 96,814 shares of the basic materials company’s stock valued at $27,989,000 after acquiring an additional 10,598 shares in the last quarter. Rafferty Asset Management LLC grew its stake in shares of Linde by 98.3% in the second quarter. Rafferty Asset Management LLC now owns 8,890 shares of the basic materials company’s stock valued at $2,570,000 after acquiring an additional 4,407 shares in the last quarter. Intersect Capital LLC grew its stake in shares of Linde by 8.0% in the second quarter. Intersect Capital LLC now owns 836 shares of the basic materials company’s stock valued at $242,000 after acquiring an additional 62 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Linde by 134.3% in the second quarter. Van ECK Associates Corp now owns 18,163 shares of the basic materials company’s stock valued at $5,251,000 after acquiring an additional 10,410 shares in the last quarter. Hedge funds and other institutional investors own 71.37% of the company’s stock.

About Linde

Linde Plc engages in the production and distribution of industrial gases. It operates through the following segments: Americas; Europe, Middle East, and Africa (EMEA); Asia and South Pacific (APAC); Engineering; and Other. The America segment operates production facilities in the U.S., Canada, Mexico, and Brazil.

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