Lockheed Martin Investment Management Co. Has $1.44 Million Holdings in Linde PLC $LIN

Lockheed Martin Investment Management Co. lessened its stake in Linde PLC (NASDAQ:LIN) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,060 shares of the basic materials company’s stock after selling 90 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Linde were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Breakwater Capital Group increased its position in Linde by 2.3% in the 2nd quarter. Breakwater Capital Group now owns 980 shares of the basic materials company’s stock valued at $460,000 after acquiring an additional 22 shares in the last quarter. Canopy Partners LLC boosted its stake in shares of Linde by 2.9% in the 2nd quarter. Canopy Partners LLC now owns 788 shares of the basic materials company’s stock valued at $370,000 after purchasing an additional 22 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its stake in shares of Linde by 1.9% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,192 shares of the basic materials company’s stock valued at $559,000 after purchasing an additional 22 shares during the last quarter. Clarendon Private LLC boosted its stake in shares of Linde by 1.0% in the 2nd quarter. Clarendon Private LLC now owns 2,273 shares of the basic materials company’s stock valued at $1,066,000 after purchasing an additional 22 shares during the last quarter. Finally, Strategy Asset Managers LLC boosted its stake in shares of Linde by 2.8% in the 1st quarter. Strategy Asset Managers LLC now owns 834 shares of the basic materials company’s stock valued at $388,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Linde Stock Down 0.5%

Shares of NASDAQ LIN opened at $429.91 on Friday. The stock has a market cap of $201.59 billion, a P/E ratio of 30.58, a P/E/G ratio of 2.85 and a beta of 0.93. The firm has a 50 day moving average price of $466.66 and a 200 day moving average price of $464.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.78 and a current ratio of 0.93. Linde PLC has a 52-week low of $408.65 and a 52-week high of $486.38.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Friday, August 1st. The basic materials company reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.06. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Linde had a net margin of 20.20% and a return on equity of 19.09%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.85 earnings per share. Analysts expect that Linde PLC will post 16.54 EPS for the current year.

Linde Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a dividend of $1.50 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 1.4%. Linde’s payout ratio is currently 42.67%.

Insider Transactions at Linde

In related news, Director Stephen F. Angel sold 50,309 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $473.38, for a total transaction of $23,815,274.42. Following the completion of the transaction, the director owned 480,543 shares in the company, valued at approximately $227,479,445.34. The trade was a 9.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

LIN has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Linde in a research note on Wednesday, October 8th. UBS Group reduced their target price on shares of Linde from $510.00 to $507.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Citigroup raised their target price on shares of Linde from $530.00 to $535.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their price objective on Linde from $470.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $520.00.

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.