Bank of New York Mellon Corp Sells 379,979 Shares of Linde PLC $LIN

Bank of New York Mellon Corp lowered its stake in Linde PLC (NASDAQ:LIN) by 6.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,601,483 shares of the basic materials company’s stock after selling 379,979 shares during the period. Bank of New York Mellon Corp’s holdings in Linde were worth $2,660,705,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Braun Bostich & Associates Inc. bought a new stake in shares of Linde during the third quarter worth approximately $208,000. AGH Wealth Advisors LLC lifted its holdings in Linde by 5.7% during the 3rd quarter. AGH Wealth Advisors LLC now owns 1,087 shares of the basic materials company’s stock worth $516,000 after purchasing an additional 59 shares during the last quarter. Investment Advisory Group LLC bought a new stake in Linde in the 3rd quarter valued at $368,000. One Wealth Advisors LLC grew its holdings in Linde by 3.1% in the 3rd quarter. One Wealth Advisors LLC now owns 986 shares of the basic materials company’s stock valued at $468,000 after buying an additional 30 shares in the last quarter. Finally, Phoenix Financial Ltd. increased its position in Linde by 3.9% during the 3rd quarter. Phoenix Financial Ltd. now owns 16,507 shares of the basic materials company’s stock worth $7,842,000 after buying an additional 622 shares during the period. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LIN has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Linde from $475.00 to $455.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Citigroup boosted their price objective on shares of Linde from $520.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Linde in a research report on Monday, December 29th. BMO Capital Markets set a $501.00 price target on shares of Linde in a research report on Wednesday, December 17th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $516.00 price target on shares of Linde in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $501.75.

Linde Stock Performance

Shares of Linde stock opened at $453.03 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.46. The company has a market cap of $211.54 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 3.19 and a beta of 0.85. The company has a 50 day moving average of $423.24 and a 200-day moving average of $447.92. Linde PLC has a 1-year low of $387.78 and a 1-year high of $486.38.

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

Linde Profile

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.