Red Door Wealth Management LLC Sells 24 Shares of Linde plc (NASDAQ:LIN)

Red Door Wealth Management LLC trimmed its position in shares of Linde plc (NASDAQ:LIN) by 2.9% during the 1st quarter, Holdings Channel reports. The firm owned 809 shares of the basic materials company’s stock after selling 24 shares during the period. Red Door Wealth Management LLC’s holdings in Linde were worth $376,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in Linde in the 4th quarter valued at $30,000. Johnson Financial Group Inc. increased its holdings in Linde by 44.4% in the 4th quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 24 shares during the last quarter. Addison Advisors LLC increased its holdings in Linde by 310.0% in the 4th quarter. Addison Advisors LLC now owns 82 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 62 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Linde by 347.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 94 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 73 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of Linde in the 4th quarter worth about $39,000. 82.80% of the stock is currently owned by institutional investors.

Linde Stock Down 0.3 %

Shares of NASDAQ:LIN traded down $1.41 during trading hours on Friday, hitting $438.81. The company’s stock had a trading volume of 2,470,164 shares, compared to its average volume of 1,763,077. Linde plc has a 52 week low of $358.37 and a 52 week high of $477.71. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.91 and a quick ratio of 0.76. The company has a market capitalization of $210.93 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 2.75 and a beta of 0.95. The firm’s fifty day moving average price is $435.71 and its 200 day moving average price is $433.91.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.68 by $0.07. Linde had a net margin of 19.26% and a return on equity of 17.49%. The business had revenue of $8.10 billion during the quarter, compared to analyst estimates of $8.38 billion. During the same quarter in the previous year, the business posted $3.42 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, research analysts expect that Linde plc will post 15.51 EPS for the current year.

Linde Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a dividend of $1.39 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.56 annualized dividend and a dividend yield of 1.27%. Linde’s dividend payout ratio (DPR) is presently 43.13%.

Analyst Ratings Changes

A number of analysts have recently weighed in on LIN shares. HSBC reduced their target price on shares of Linde from $458.00 to $452.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Wells Fargo & Company lifted their price target on shares of Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Mizuho lifted their price target on shares of Linde from $510.00 to $512.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Citigroup cut shares of Linde from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $475.00 to $500.00 in a research note on Wednesday, April 10th. Finally, UBS Group cut shares of Linde from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $482.00 to $510.00 in a research note on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Linde presently has a consensus rating of “Moderate Buy” and an average price target of $468.83.

Linde Company Profile

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.