Toronto Dominion Bank Lowers Position in Linde plc (NYSE:LIN)

Toronto Dominion Bank lowered its holdings in Linde plc (NYSE:LIN) by 70.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 242,796 shares of the basic materials company’s stock after selling 586,578 shares during the quarter. Toronto Dominion Bank’s holdings in Linde were worth $70,192,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LIN. Harbor Investment Advisory LLC increased its holdings in Linde by 21.5% during the second quarter. Harbor Investment Advisory LLC now owns 192 shares of the basic materials company’s stock valued at $55,000 after buying an additional 34 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of Linde by 8.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 414 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 34 shares during the last quarter. Glassman Wealth Services boosted its position in Linde by 11.6% during the second quarter. Glassman Wealth Services now owns 336 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 35 shares in the last quarter. Mechanics Bank Trust Department grew its stake in Linde by 3.2% in the second quarter. Mechanics Bank Trust Department now owns 1,156 shares of the basic materials company’s stock valued at $334,000 after purchasing an additional 36 shares during the last quarter. Finally, Quest Capital Management Inc. ADV raised its holdings in Linde by 2.6% in the second quarter. Quest Capital Management Inc. ADV now owns 1,438 shares of the basic materials company’s stock worth $415,000 after purchasing an additional 36 shares in the last quarter. 72.10% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on LIN. JPMorgan Chase & Co. boosted their price objective on shares of Linde from $350.00 to $356.00 and gave the stock an “overweight” rating in a research note on Monday, August 2nd. They noted that the move was a valuation call. Morgan Stanley restated a “buy” rating on shares of Linde in a research note on Monday, September 6th. Zacks Investment Research upgraded Linde from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a research note on Friday, July 16th. Wells Fargo & Company boosted their price target on Linde from $340.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 3rd. Finally, HSBC upped their price objective on shares of Linde from $272.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, June 3rd. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $335.23.

LIN stock opened at $311.94 on Wednesday. The company has a market capitalization of $161.09 billion, a P/E ratio of 50.07, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. Linde plc has a 12 month low of $214.14 and a 12 month high of $317.03. The firm’s fifty day simple moving average is $304.46 and its 200-day simple moving average is $291.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.71 and a quick ratio of 0.60.

Linde (NYSE:LIN) last posted its quarterly earnings results on Friday, July 30th. The basic materials company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.53 by $0.17. The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.38 billion. Linde had a net margin of 11.37% and a return on equity of 10.54%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.90 earnings per share. As a group, sell-side analysts forecast that Linde plc will post 10.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Friday, September 3rd will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 1.36%. The ex-dividend date is Thursday, September 2nd. Linde’s dividend payout ratio (DPR) is 51.52%.

Linde Company Profile

Linde Plc engages in the production and distribution of industrial gases. It operates through the following segments: Americas; Europe, Middle East, and Africa (EMEA); Asia and South Pacific (APAC); Engineering; and Other. The America segment operates production facilities in the U.S., Canada, Mexico, and Brazil.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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