Linde plc (LIN) receives a Buy rating from Citigroup


In a filing, Linde plc revealed its Director ANGEL STEPHEN F unloaded Company’s shares for reported $15.55 million on Aug 01. In the deal valued at $391.62 per share,39,695 shares were sold. As a result of this transaction, ANGEL STEPHEN F now holds 369,611 shares worth roughly $ 143.75 million.

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Then, Durbin Sean sold 1,966 shares, generating $734,222 in total proceeds. Upon selling the shares at $373.46, the Executive VP, EMEA now owns 8,149 shares.

Before that, Strauss David P sold 2,194 shares. Linde plc shares valued at $814,016 were divested by the Executive VP, Chief HR Officer at a price of $371.02 per share. As a result of the transaction, Strauss David P now holds 23,939 shares, worth roughly $9.31 million.

Citigroup initiated its Linde plc [LIN] rating to a Buy in a research note published on Friday, June 14, 2023; the price target was $430. PT values the company’s stock at a premium of 9.56 to its Friday closing price.

Price Performance Review of LIN

On Friday, Linde plc [NYSE:LIN] saw its stock jump 0.48% to $388.91. On the same session, the stock had its day’s lowest price of $387.58, but rose to a high of $391.005. Over the last five days, the stock has gained 1.92%. Linde plc shares have risen nearly 19.23% since the year began. Nevertheless, the stocks have risen 37.49% over the past one year. While a 52-week high of $393.67 was reached on 08/01/23, a 52-week low of $262.47 was recorded on 01/05/23. SMA at 50 days reached $379.68, while 200 days put it at $354.04. A total of 0.97 million shares were traded, compared to the trading of 1.19 million shares in the previous session.

Levels Of Support And Resistance For LIN Stock

The 24-hour chart illustrates a support level at 387.32, which if violated will result in even more drops to 385.74. On the upside, there is a resistance level at 390.75. A further resistance level may holdings at 392.59. The Relative Strength Index (RSI) on the 14-day chart is 63.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 6.71, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.95%. Stochastics %K at 88.99% indicates the stock is a selling.

How much short interest is there in Linde plc?

A steep rise in short interest was recorded in Linde plc stocks on Aug 14, 2023, dropping by -0.11 million shares to a total of 3.2 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.31 million shares. There was a decline of -3.44%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.66% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.43.

Linde plc [LIN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 41,952,895 shares, or roughly 8.60% of the outstanding LIN shares. In other words, the investor’s shares have fallen by -170,689 from its previous 13-F filing of 42123584.0. Additionally, BlackRock Fund Advisors increased 2.09% of its stake after which the total value it holdings stand at $8,548,303,792, while SSgA Funds Management, Inc. added 0.67% of its stake to hold $7.86 billion in the firm. Over the last quarter, Massachusetts Financial Services purchased 231,107 shares of Linde plc, while Capital Research & Management Co bought -48,289 shares. At present, Capital Research & Management Co is holding 11,856,849 shares valued at $4.63 billion. Capital Research & Management Co owned 11,214,833 shares of the company at the time of its most recent 13F filing, worth $4.38 billion.

According to FactSet, Linde plc’s share price will average $420.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 9.16 percent from its previous closing price of $387.04. Analysts expect Linde plc stock to reach the higher price of $450.00, while the lowest price estimate is $339.00. However, 31 analysts have rated LIN stock as an Overweight in their predictions for 2023.


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