Linde (NASDAQ:LIN) Price Target Raised to $510.00

Linde (NASDAQ:LIN) had its price target upped by Barclays from $460.00 to $510.00 in a report published on Monday, Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

A number of other brokerages have also weighed in on LIN. Wells Fargo & Company boosted their price objective on shares of Linde from $480.00 to $540.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Mizuho boosted their price target on Linde from $510.00 to $512.00 and gave the stock a buy rating in a research note on Friday, May 3rd. HSBC dropped their price objective on Linde from $458.00 to $452.00 and set a buy rating on the stock in a research report on Monday, May 6th. Citigroup boosted their target price on Linde from $470.00 to $480.00 and gave the stock a neutral rating in a research report on Friday, July 12th. Finally, UBS Group dropped 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. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $484.18.

Linde Trading Up 1.3 %

Linde stock opened at $447.54 on Monday. Linde has a 12 month low of $361.02 and a 12 month high of $477.71. The company has a market capitalization of $215.12 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 2.87 and a beta of 0.94. The business’s fifty day simple moving average is $440.48 and its two-hundred day simple moving average is $440.54. The company has a current ratio of 0.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Linde (NASDAQ:LIN) last announced its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.06. The company had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.30 billion. Linde had a net margin of 19.26% and a return on equity of 17.49%. Linde’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.57 EPS. As a group, equities analysts predict that Linde will post 15.49 earnings per share for the current fiscal year.

Linde Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $1.39 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.56 annualized dividend and a yield of 1.24%. Linde’s dividend payout ratio (DPR) is 43.13%.

Institutional Investors Weigh In On Linde

Hedge funds and other institutional investors have recently modified their holdings of the stock. Retirement Group LLC bought a new stake in Linde during the 1st quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Linde during the 2nd quarter valued at $28,000. First Pacific Financial purchased a new position in shares of Linde during the 1st quarter valued at $30,000. Scarborough Advisors LLC purchased a new position in shares of Linde during the 4th quarter valued at $30,000. Finally, Johnson Financial Group Inc. boosted 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 worth $32,000 after buying an additional 24 shares during the period. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

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.