Linde (NYSE:LIN) Price Target Raised to $220.00 at KeyCorp

Linde (NYSE:LIN) had its price objective lifted by KeyCorp from $205.00 to $220.00 in a research note released on Tuesday morning, The Fly reports. KeyCorp currently has an overweight rating on the basic materials company’s stock.

LIN has been the subject of a number of other research reports. Jefferies Financial Group restated a buy rating on shares of Linde in a report on Friday, June 21st. BMO Capital Markets lifted their price objective on shares of Air Products & Chemicals to $235.00 and gave the company an outperform rating in a report on Monday, May 13th. Argus began coverage on shares of Linde in a report on Friday, March 22nd. They issued a hold rating and a $175.10 price objective for the company. SunTrust Banks dropped their price objective on shares of Perrigo to $46.00 and set a hold rating for the company in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the company a neutral rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $201.01.

Shares of LIN opened at $203.98 on Tuesday. Linde has a 1-year low of $145.95 and a 1-year high of $204.76. The firm has a market capitalization of $110.51 billion, a PE ratio of 31.74, a PEG ratio of 2.19 and a beta of 0.77. The company’s 50-day moving average is $197.46. The company has a current ratio of 1.35, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22.

Linde (NYSE:LIN) last announced its quarterly earnings results on Friday, May 10th. The basic materials company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.15. Linde had a net margin of 23.52% and a return on equity of 14.95%. The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $7.03 billion. Equities analysts forecast that Linde will post 6.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.875 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $3.50 dividend on an annualized basis and a yield of 1.72%.

In related news, CEO Stephen F. Angel sold 56,574 shares of Linde stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $197.27, for a total value of $11,160,352.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christian Bruch purchased 1,474 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average price of $179.21 per share, with a total value of $264,155.54. The disclosure for this purchase can be found here. 0.70% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of LIN. Norges Bank purchased a new position in Linde in the fourth quarter worth approximately $2,624,717,000. Deutsche Bank AG purchased a new stake in shares of Linde during the 4th quarter worth approximately $1,315,604,000. FMR LLC purchased a new stake in shares of Linde during the 4th quarter worth approximately $1,245,211,000. Geode Capital Management LLC purchased a new stake in shares of Linde during the 4th quarter worth approximately $997,692,000. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of Linde by 33,491.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,907,437 shares of the basic materials company’s stock worth $863,366,000 after buying an additional 4,892,828 shares during the last quarter. Institutional investors own 72.84% of the company’s stock.

About Linde

Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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