Gofen & Glossberg LLC IL cut its stake in Praxair, Inc. (NYSE:PX) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,396 shares of the basic materials company’s stock after selling 505 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Praxair were worth $3,968,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Salem Investment Counselors Inc. lifted its stake in Praxair by 0.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock valued at $321,000 after buying an additional 13 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying an additional 31 shares in the last quarter. Elkhorn Investments LLC lifted its stake in Praxair by 0.3% in the 2nd quarter. Elkhorn Investments LLC now owns 9,265 shares of the basic materials company’s stock valued at $1,206,000 after buying an additional 31 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its stake in Praxair by 2.6% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 1,796 shares of the basic materials company’s stock valued at $238,000 after buying an additional 46 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its stake in Praxair by 1.3% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 4,576 shares of the basic materials company’s stock valued at $607,000 after buying an additional 58 shares in the last quarter. 86.43% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on PX. Jefferies Group set a $186.00 price target on shares of Praxair and gave the company a “buy” rating in a research note on Monday. Barclays raised their price target on shares of Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. SunTrust Banks reaffirmed a “buy” rating and issued a $162.00 price target on shares of Praxair in a research note on Friday, October 27th. J P Morgan Chase & Co raised their price target on shares of Praxair from $145.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Finally, Susquehanna Bancshares raised their target price on shares of Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $156.15.

Praxair, Inc. (NYSE:PX) traded down $0.07 on Thursday, reaching $151.27. 1,183,600 shares of the company’s stock were exchanged, compared to its average volume of 1,346,828. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91. Praxair, Inc. has a twelve month low of $115.00 and a twelve month high of $156.40. The stock has a market cap of $43,310.00, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00.

Praxair (NYSE:PX) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company posted $1.41 EPS. The business’s revenue was up 7.6% on a year-over-year basis. sell-side analysts forecast that Praxair, Inc. will post 5.81 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.08%. Praxair’s dividend payout ratio is currently 56.05%.

In other news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the sale, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

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About Praxair

Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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