Tyche Wealth Partners LLC Sells 32 Shares of Linde plc (NASDAQ:LIN)

Tyche Wealth Partners LLC cut its holdings in Linde plc (NASDAQ:LIN) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,413 shares of the basic materials company’s stock after selling 32 shares during the period. Tyche Wealth Partners LLC’s holdings in Linde were worth $674,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LIN. Retirement Group LLC bought a new stake in shares of Linde in the 1st quarter valued at about $25,000. Summit Securities Group LLC bought a new stake in Linde in the second quarter valued at approximately $28,000. Strategic Financial Concepts LLC purchased a new stake in shares of Linde during the second quarter valued at approximately $33,000. Kozak & Associates Inc. bought a new position in shares of Linde in the third quarter worth approximately $34,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of Linde in the second quarter worth $42,000. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LIN shares. Barclays increased their price target on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Bank of America lifted their price objective on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets restated an “outperform” rating and set a $477.00 target price on shares of Linde in a report on Friday, August 30th. UBS Group cut their price target on shares of Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.18.

Insider Buying and Selling

In other news, VP John Panikar sold 10,025 shares of Linde stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total value of $4,639,068.75. Following the completion of the transaction, the vice president now owns 17,584 shares in the company, valued at approximately $8,136,996. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.

Linde Price Performance

Shares of LIN traded down $1.43 during midday trading on Tuesday, hitting $474.57. 445,908 shares of the company traded hands, compared to its average volume of 1,815,833. The stock has a market cap of $226.61 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 3.00 and a beta of 0.94. The firm has a 50 day moving average of $472.59 and a 200-day moving average of $451.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95. Linde plc has a 52 week low of $373.69 and a 52 week high of $487.49.

Linde (NASDAQ:LIN) last announced its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.06. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same period in the prior year, the company earned $3.57 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that Linde plc will post 15.52 EPS for the current fiscal year.

About Linde

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.