Zacks Investment Research Downgrades Linde (LIN) to Sell

Linde (NYSE:LIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Linde plc. is an industrial gas and engineering company. Linde plc., formerly known as Praxair Inc., is based in Guildford, UK. “

Several other analysts have also issued reports on the stock. Edward Jones initiated coverage on shares of Linde in a report on Wednesday, October 31st. They issued a “buy” rating on the stock. JPMorgan Chase & Co. initiated coverage on Linde in a research report on Friday, November 2nd. They issued an “overweight” rating and a $185.00 target price for the company. Barclays initiated coverage on Linde in a research report on Monday, November 5th. They issued an “equal weight” rating and a $178.00 target price for the company. Nord/LB reaffirmed a “neutral” rating on shares of Linde in a research report on Tuesday, November 20th. Finally, Deutsche Bank initiated coverage on Linde in a research report on Thursday, November 15th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Linde currently has an average rating of “Hold” and a consensus price target of $184.33.

Shares of LIN opened at $158.46 on Tuesday. The stock has a market capitalization of $45.04 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.73 and a beta of 0.80. Linde has a 12-month low of $145.95 and a 12-month high of $166.85. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.70 and a current ratio of 0.86.

In other news, Director Robert L. Wood sold 1,800 shares of the business’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $158.03, for a total transaction of $284,454.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eduardo F. Menezes sold 6,335 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $156.00, for a total value of $988,260.00. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Tower View Investment Management & Research LLC acquired a new position in shares of Linde during the fourth quarter worth about $37,000. Bath Savings Trust Co acquired a new position in shares of Linde during the fourth quarter worth about $322,000. CHICAGO TRUST Co NA acquired a new position in shares of Linde during the fourth quarter worth about $369,000. Woodstock Corp acquired a new position in shares of Linde during the fourth quarter worth about $373,000. Finally, Private Trust Co. NA acquired a new position in shares of Linde during the fourth quarter worth about $542,000. 75.34% of the stock is owned by institutional investors and hedge funds.

About Linde

Linde plc operates as an industrial gas and engineering company. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene, shielding gases, and noble gases, as well as develops and distributes procedures and systems for gas applications.

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