Eastern Bank Reduces Position in Linde PLC $LIN

Eastern Bank trimmed its position in Linde PLC (NASDAQ:LIN) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,106 shares of the basic materials company’s stock after selling 5,466 shares during the period. Eastern Bank’s holdings in Linde were worth $34,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC raised its stake in shares of Linde by 1.3% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 249,742 shares of the basic materials company’s stock valued at $117,174,000 after buying an additional 3,230 shares during the last quarter. Markel Group Inc. grew its holdings in Linde by 3.1% during the second quarter. Markel Group Inc. now owns 186,600 shares of the basic materials company’s stock worth $87,549,000 after acquiring an additional 5,600 shares during the period. Destiny Wealth Partners LLC purchased a new position in Linde during the second quarter valued at approximately $465,000. Cerity Partners LLC lifted its holdings in Linde by 12.3% in the third quarter. Cerity Partners LLC now owns 205,318 shares of the basic materials company’s stock valued at $97,526,000 after acquiring an additional 22,489 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted its position in Linde by 27.2% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 417,001 shares of the basic materials company’s stock worth $195,649,000 after purchasing an additional 89,129 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Linde Stock Performance

LIN opened at $442.90 on Wednesday. The firm’s fifty day simple moving average is $418.82 and its two-hundred day simple moving average is $449.96. Linde PLC has a 52-week low of $387.78 and a 52-week high of $486.38. The company has a market cap of $206.81 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 3.10 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.46.

Linde (NASDAQ:LIN) last released its quarterly earnings results on Friday, October 31st. The basic materials company reported $4.21 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.03. The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.62 billion. Linde had a net margin of 21.17% and a return on equity of 19.38%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.94 EPS. Linde has set its FY 2025 guidance at 16.350-16.450 EPS and its Q4 2025 guidance at 4.100-4.200 EPS. Equities analysts anticipate that Linde PLC will post 16.54 earnings per share for the current fiscal year.

Linde Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, December 3rd. Linde’s dividend payout ratio (DPR) is 40.19%.

Analysts Set New Price Targets

Several research firms have recently weighed in on LIN. JPMorgan Chase & Co. cut their target price on shares of Linde from $475.00 to $455.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Linde in a research report on Monday, December 29th. Citigroup decreased their price objective on shares of Linde from $535.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. CICC Research started coverage on shares of Linde in a research note on Wednesday, December 3rd. They set an “outperform” rating and a $510.00 target price on the stock. Finally, Royal Bank Of Canada cut their price target on Linde from $540.00 to $490.00 and set an “outperform” rating for the company in a research note on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $499.25.

About Linde

Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.

Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher‑value specialty and electronic gases.