Linde (NYSE:LIN) PT Raised to $365.00 at Morgan Stanley

Linde (NYSE:LIN) had its target price upped by Morgan Stanley from $330.00 to $365.00 in a research note released on Tuesday morning, Price Targets.com reports. Morgan Stanley currently has an overweight rating on the basic materials company’s stock.

A number of other equities analysts also recently commented on LIN. Wells Fargo & Company lifted their target price on shares of Linde from $360.00 to $365.00 and gave the stock an overweight rating in a research note on Friday, October 29th. Mizuho lifted their target price on shares of Linde from $335.00 to $339.00 and gave the stock a neutral rating in a research note on Friday, October 29th. Seaport Res Ptn reaffirmed a neutral rating on shares of Linde in a research note on Tuesday, October 19th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Linde from $350.00 to $360.00 and gave the stock a buy rating in a research note on Friday, October 29th. Finally, Citigroup lifted their target price on shares of Linde from $381.00 to $400.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $356.40.

NYSE:LIN opened at $328.63 on Tuesday. The company’s 50-day moving average price is $334.05 and its 200-day moving average price is $315.40. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.25. The company has a market cap of $168.44 billion, a P/E ratio of 48.40, a P/E/G ratio of 2.80 and a beta of 0.82. Linde has a twelve month low of $240.80 and a twelve month high of $352.18.

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

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

In related news, VP John Panikar sold 4,872 shares of Linde stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. State Street Corp grew its holdings in Linde by 0.4% during the 2nd quarter. State Street Corp now owns 21,297,579 shares of the basic materials company’s stock worth $6,157,130,000 after acquiring an additional 89,235 shares in the last quarter. FMR LLC grew its holdings in Linde by 0.5% during the 2nd quarter. FMR LLC now owns 10,327,048 shares of the basic materials company’s stock worth $2,983,291,000 after acquiring an additional 47,952 shares in the last quarter. Geode Capital Management LLC grew its holdings in Linde by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 8,052,181 shares of the basic materials company’s stock worth $2,355,620,000 after acquiring an additional 32,472 shares in the last quarter. Capital World Investors grew its holdings in Linde by 6.4% during the 3rd quarter. Capital World Investors now owns 6,241,199 shares of the basic materials company’s stock worth $1,834,423,000 after acquiring an additional 376,091 shares in the last quarter. Finally, Winder Investment Pte Ltd grew its holdings in Linde by 2.1% during the 3rd quarter. Winder Investment Pte Ltd now owns 5,036,220 shares of the basic materials company’s stock worth $1,477,526,000 after acquiring an additional 105,117 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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Analyst Recommendations for Linde (NYSE:LIN)

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