Tilt Investment Management Holdings PBC Decreases Holdings in Linde plc (NASDAQ:LIN)

Tilt Investment Management Holdings PBC trimmed its position in shares of Linde plc (NASDAQ:LIN) by 24.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,970 shares of the basic materials company’s stock after selling 628 shares during the period. Linde comprises 0.9% of Tilt Investment Management Holdings PBC’s investment portfolio, making the stock its 26th largest position. Tilt Investment Management Holdings PBC’s holdings in Linde were worth $809,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State Street Corp grew its position in Linde by 1.9% during the 1st quarter. State Street Corp now owns 19,984,243 shares of the basic materials company’s stock worth $7,103,185,000 after acquiring an additional 372,780 shares during the last quarter. FMR LLC grew its position in shares of Linde by 2.6% in the 3rd quarter. FMR LLC now owns 13,919,350 shares of the basic materials company’s stock worth $5,182,870,000 after buying an additional 354,506 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Linde by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 8,587,362 shares of the basic materials company’s stock worth $2,315,068,000 after purchasing an additional 488,655 shares during the period. Norges Bank purchased a new stake in Linde in the fourth quarter worth $2,409,138,000. Finally, Nuveen Asset Management LLC grew its stake in Linde by 7.9% in the second quarter. Nuveen Asset Management LLC now owns 6,508,547 shares of the basic materials company’s stock worth $2,480,277,000 after purchasing an additional 479,188 shares during the period. 82.80% of the stock is owned by hedge funds and other institutional investors.

Linde Stock Performance

Shares of NASDAQ:LIN traded down $0.86 during midday trading on Thursday, reaching $445.93. 538,755 shares of the company’s stock traded hands, compared to its average volume of 2,249,708. The company has a market cap of $214.75 billion, a price-to-earnings ratio of 35.46, a P/E/G ratio of 2.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.67 and a current ratio of 0.80. Linde plc has a one year low of $350.60 and a one year high of $477.71. The stock has a 50 day moving average of $452.70 and a 200 day moving average of $417.56.

Linde (NASDAQ:LIN) last posted its earnings results on Tuesday, February 6th. The basic materials company reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.10. Linde had a return on equity of 17.06% and a net margin of 18.87%. The company had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the prior year, the company earned $3.16 earnings per share. Linde’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that Linde plc will post 15.58 EPS for the current fiscal year.

Linde Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.39 dividend. This is an increase from Linde’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $5.56 dividend on an annualized basis and a yield of 1.25%. Linde’s dividend payout ratio is currently 44.13%.

Insiders Place Their Bets

In other Linde news, VP Juergen Nowicki sold 13,134 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $459.14, for a total value of $6,030,344.76. Following the completion of the sale, the vice president now owns 6,920 shares in the company, valued at $3,177,248.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Linde news, VP Juergen Nowicki sold 13,134 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $459.14, for a total value of $6,030,344.76. Following the completion of the sale, the vice president now owns 6,920 shares in the company, valued at $3,177,248.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sean Durbin sold 5,277 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $467.39, for a total value of $2,466,417.03. Following the completion of the sale, the vice president now owns 8,151 shares of the company’s stock, valued at approximately $3,809,695.89. The disclosure for this sale can be found here. Insiders sold a total of 78,248 shares of company stock worth $35,811,988 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Stifel Nicolaus downgraded Linde from a “buy” rating to a “hold” rating and set a $429.00 target price on the stock. in a report on Monday, January 22nd. UBS Group downgraded Linde from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $482.00 to $510.00 in a report on Wednesday, March 27th. Wolfe Research assumed coverage on Linde in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. TD Cowen boosted their target price on Linde from $395.00 to $455.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Finally, Seaport Res Ptn downgraded Linde from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Linde currently has an average rating of “Moderate Buy” and an average target price of $456.79.

Linde Company Profile

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.