Apollon Wealth Management LLC Sells 631 Shares of Linde plc (NASDAQ:LIN)

Apollon Wealth Management LLC reduced its stake in shares of Linde plc (NASDAQ:LIN) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,966 shares of the basic materials company’s stock after selling 631 shares during the quarter. Apollon Wealth Management LLC’s holdings in Linde were worth $3,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in Linde during the 2nd quarter valued at approximately $28,000. Kozak & Associates Inc. bought a new stake in Linde in the third quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in Linde during the third quarter valued at $43,000. J.Safra Asset Management Corp bought a new position in Linde during the second quarter valued at $42,000. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Linde by 133.3% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 98 shares of the basic materials company’s stock worth $44,000 after buying an additional 56 shares in the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LIN has been the topic of several recent research reports. Bank of America upped their target price on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Barclays increased their price target on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Mizuho lifted their price objective on shares of Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Linde from $510.00 to $515.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $490.75.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Linde Stock Performance

Shares of NASDAQ:LIN opened at $455.59 on Wednesday. The firm’s 50 day simple moving average is $471.16 and its 200-day simple moving average is $452.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96. Linde plc has a one year low of $395.00 and a one year high of $487.49. The firm has a market cap of $216.93 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.92 and a beta of 0.94.

Linde (NASDAQ:LIN) last issued its earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.05. Linde had a return on equity of 18.16% and a net margin of 19.33%. The business had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same period in the previous year, the company posted $3.63 EPS. Linde’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts predict that Linde plc will post 15.48 EPS for the current year.

Linde Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio (DPR) is 42.22%.

Linde 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.