Linde plc (NYSE:LIN – Get Rating) declared a quarterly dividend on Wednesday, April 27th, Wall Street Journal reports. Shareholders of record on Friday, June 3rd will be paid a dividend of 1.17 per share by the basic materials company on Friday, June 17th. This represents a $4.68 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, June 2nd.
Linde has raised its dividend by an average of 72.6% per year over the last three years and has raised its dividend annually for the last 31 consecutive years. Linde has a payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Linde to earn $13.20 per share next year, which means the company should continue to be able to cover its $4.68 annual dividend with an expected future payout ratio of 35.5%.
Shares of Linde stock opened at $307.04 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.74 and a quick ratio of 0.62. The business’s 50 day simple moving average is $306.20 and its two-hundred day simple moving average is $317.75. The stock has a market capitalization of $157.37 billion, a P/E ratio of 41.95, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. Linde has a one year low of $267.51 and a one year high of $352.18.
Institutional investors have recently added to or reduced their stakes in the business. Heritage Wealth Advisors boosted its holdings in Linde by 200.0% in the fourth quarter. Heritage Wealth Advisors now owns 300 shares of the basic materials company’s stock worth $104,000 after acquiring an additional 200 shares in the last quarter. Zullo Investment Group Inc. bought a new stake in Linde in the fourth quarter worth $185,000. Levin Capital Strategies L.P. bought a new stake in Linde in the fourth quarter worth $229,000. Paradigm Financial Partners LLC bought a new stake in Linde in the fourth quarter worth $283,000. Finally, Cypress Capital Group bought a new stake in Linde in the fourth quarter worth $316,000. 70.90% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on LIN shares. Cowen reduced their target price on Linde from $345.00 to $330.00 and set a “market perform” rating on the stock in a research note on Thursday, March 3rd. HSBC boosted their target price on Linde from $366.00 to $382.00 and gave the company a “buy” rating in a research note on Friday, February 18th. Jefferies Financial Group started coverage on Linde in a research note on Wednesday, March 30th. They set a “buy” rating and a $390.00 target price on the stock. Morgan Stanley boosted their target price on Linde from $330.00 to $365.00 and gave the company an “overweight” rating in a research note on Tuesday, January 11th. Finally, Societe Generale boosted their target price on Linde from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 4th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $361.53.
About Linde (Get Rating)
Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia 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.
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