Linde (LIN)

• Market cap: $224B
• 1 day: -1.1%
• 5 days: 0.76%
• 1 month: -0.7%
• 3 months: 2.17%
• 6 months: 3.57%
• Year to date: 15.1%
• 1 year: 0.38%
• 5 years: 90.14%
• 10 years: 188.11%
• Sector: Materials
• Industry: Specialty Chemicals

About: Linde is the largest industrial gas supplier in the world, with operations in over 100 countries. The firm's main products are atmospheric gases (including oxygen, nitrogen, and argon) and process gases (including hydrogen, carbon dioxide, and helium), as well as equipment used in industrial gas production. Linde serves a wide variety of end markets, including chemicals, manufacturing, healthcare, and steelmaking. Linde generated approximately $33 billion in revenue in 2024.

Employees: 64,842

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

63% more first-time investments, than exits

New positions opened: 156 | Existing positions closed: 96

21% more repeat investments, than reductions

Existing positions increased: 870 | Existing positions reduced: 718

1% more funds holding

Funds holding: 2,036 [Q1] → 2,064 (+28) [Q2]

1.1% more ownership

Funds ownership: 80.41% [Q1] → 81.51% (+1.1%) [Q2]

1% more capital invested

Capital invested by funds: $178B [Q1] → $180B (+$1.87B) [Q2]

11% less call options, than puts

Call options by funds: $638M | Put options by funds: $713M

12% less funds holding in top 10

Funds holding in top 10: 77 [Q1] → 68 (-9) [Q2]

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $475
• Avg. target: $505
• High target: $535

3 analyst ratings

• positive: 2 67%
• neutral: 1 33%
• negative: 0 0%

JP Morgan Jeffrey Zekauskas	$475	Overweight Maintained	4 Aug 2025
UBS Geoff Haire	$504	Neutral Maintained	9 Jul 2025
Citigroup Patrick Cunningham	$535	Buy Upgraded	30 Jun 2025