Sentry Investment Management LLC Decreases Holdings in Linde PLC (LIN)

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Sentry Investment Management LLC reduced its holdings in shares of Linde PLC (NYSE:LIN) by 8.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,579 shares of the basic materials company’s stock after selling 1,116 shares during the period. Sentry Investment Management LLC’s holdings in Linde were worth $2,213,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LIN. BlackRock Inc. purchased a new stake in Linde during the fourth quarter worth approximately $4,827,463,000. Norges Bank purchased a new stake in Linde during the fourth quarter worth approximately $2,624,717,000. Massachusetts Financial Services Co. MA purchased a new stake in Linde during the fourth quarter worth approximately $2,336,558,000. Bank of New York Mellon Corp purchased a new stake in Linde during the fourth quarter worth approximately $1,604,835,000. Finally, Oregon Public Employees Retirement Fund purchased a new stake in Linde during the fourth quarter worth approximately $60,000. Institutional investors own 74.12% of the company’s stock.

Several equities research analysts have issued reports on the stock. DZ Bank upgraded shares of Linde to a “buy” rating in a research note on Friday. Zacks Investment Research upgraded shares of Linde from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Barclays upped their target price on shares of Linde from $180.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. BMO Capital Markets upgraded shares of Linde from a “market perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Monday, May 13th. Finally, Societe Generale restated a “buy” rating on shares of Linde in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $193.73.

LIN traded up $1.65 during trading on Tuesday, hitting $186.91. The company had a trading volume of 17,660 shares, compared to its average volume of 1,685,469. The stock has a market capitalization of $102.99 billion, a PE ratio of 29.58, a P/E/G ratio of 2.05 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.35 and a quick ratio of 1.21. Linde PLC has a 1-year low of $145.95 and a 1-year high of $189.45.

Linde (NYSE:LIN) last posted its quarterly earnings results on Friday, May 10th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.15. The firm had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $7.03 billion. Linde had a net margin of 23.52% and a return on equity of 14.95%. On average, equities research analysts forecast that Linde PLC will post 6.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.875 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.50 annualized dividend and a yield of 1.87%.

In related news, insider Anne K. Roby sold 3,159 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.77, for a total value of $558,416.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas Enders purchased 6,600 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average cost of $172.16 per share, for a total transaction of $1,136,256.00. The disclosure for this purchase can be found here. Insiders sold 65,926 shares of company stock worth $12,140,692 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

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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.

Read More: Why do companies pay special dividends?

Want to see what other hedge funds are holding LIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Linde PLC (NYSE:LIN).

Institutional Ownership by Quarter for Linde (NYSE:LIN)

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